March 29, 2010
State Could Forgive $100M In Tax Penalties
By Brandon Butler
The state Department of Revenue is offering a $104 million amnesty program for businesses that have outstanding tax liabilities.
The two-month program will allow businesses to waive penalties related to unpaid taxes if they pay the full back tax amount by June 1.
Total back taxes owed that are covered in the program amount to $408.8 million. But the agency said that if all taxes are paid minus the penalties, the state would collect $304.3 million.
The program will last from April 1 to June 1 and will cover tax bills issued on or before Dec. 31 2009.
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