Friday, September 25, 2009

Tax amnesty nets nearly $15 million

With a little over a month left in a state tax amnesty program, the state Revenue Department has collected nearly $15 million.

The program, which began Sept. 1 and ends Oct. 31, waives all penalties and half the interest owed if taxes are paid in full, said Byron Henderson, spokesman for the state Department of Revenue.

The $15 million collected so far is much less than the $150 million the state hopes to raise. Part of the proceeds are supposed to help rebuild the state’s savings.

The state hopes to use some of the program’s proceeds to replenish a “rainy day” fund set up to tide the state over during a budget deficit.

Henderson said the amnesty program is voluntary. Taxpayers are not obligated to participate, he said.

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