Friday, October 11, 2013

Friday Lost + Found: D(minus) as in "Delaware", Money at the State Fair

COST Issues Unclaimed Property Scorecard, Delaware Still at Bottom -- The Council on State Taxation, a nonprofit trade association representing the interest of corporate state taxpayers, recently issued its second Unclaimed Property Scorecard.  The Scorecard is an effort by COST to compare and contrast the states' varying approaches to unclaimed property law compliance and looks at such topics as the use of contingent fee auditing firms, the treatment of penalties and interest and the availability of appeals processes and the like.  Once again, Delaware finds itself at the bottom of the list, registering a D-.  The highest grades were given to Virginia and Massachusetts, both of which received As.  If you are interested in unclaimed property, the Scorecard is worth a read.

Going to the State Fair Pays Off -- We've mentioned state fairs in this space as one of the places where states do unclaimed property outreach to potential owners of unclaimed funds.  This year, the Maryland Controller's office announced that its state and local fair outreach program resulted in excess of $300,000 being returned to rightful owners.  Whether its fried treats or found money, state fairs have something for everyone.


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