The Comptroller of Maryland, Peter Franchot, has announced that the state will offer tax relief to victims during the Hurricane Harvey recovery effort.
Prompted by the extreme level of suffering and destruction caused by Hurricane Harvey, Maryland’s Comptroller Peter Franchot has revealed a plan that will aid in the recovery from the storm. Franchot has issued to affected companies temporary waivers of Motor Fuel Tax returns and IFTA requirements, named an individual who will assist companies and taxpayers in filing for tax relief, and issued a fuel waiver intended to safeguard the state’s gasoline supply.
The International Fuel Tax Agreement (IFTA) waiver suspends requirements of the agreement as a way of helping to ensure that utilities will be restored as quickly as possible and make it possible for emergency personnel and relief supplies to be sent to the areas most affected by Harvey without potential constraints defined in the agreement. The IFTA waiver lessens the requirements on carriers of the most needed supplies and on emergency workers as well as those who are assisting in restoring utilities in the region.
The Comptroller has also offered Texas, Louisiana and Florida
Maryland Motor Tax Fuel license holders a waiver on interest and penalties on July/August tax returns. The temporary waivers are effective September 11 through the end of November.
Franchot is also allowing conventional gasoline to be produced, sold and distributed temporarily in control areas to allow for the replenishment of the supply of gasoline in areas in which there are major supply shortages caused by the storm. Reid Vapor Pressure Limits have also been increased temporarily to facilitate the relief and recovery effort. Franchot said
that the primary focus is:
to make sure businesses and individuals affected by this life changing storm can focus on cleaning up and rebuilding their cities and communities as they begin to recover and put their lives back together.”
A Tax practitioner hotline has been setup for businesses impacted by the hurricanes. If your business has been directly affected by the Hurricane, you should call 410-260-6346. Individuals who have tax questions regarding hurricane Harvey relief should call 1-800-MD-Taxes or email email@example.com.