By PBN Staff
PROVIDENCE – Rhode Island’s tax amnesty program, which promises a clean slate to the state’s tax delinquents, has generated $7.36 million so far and drawn 2,792 applications, Tax Administrator David M. Sullivan said Thursday.
“We are gratified with the results to date,” said Sullivan in prepared remarks.
This year’s amnesty ends in three weeks on Nov. 15. “Time’s running out. Get your application in as soon as possible,” said Sullivan, who added that his office expects a large rush of applications at the deadline.
During the state’s last tax amnesty, in 2006, roughly 80 percent of the total dollars were collected during the final 30 days, according to the release.
If residents file an amnesty application, past-due returns and pay back taxes, the state’s Tax Division said it will take a number of steps to reduce the overall burden, if approved.
If the application is approved, the Tax Division will: waive penalties, reduce interest by 25 percent, agree not to pursue civil or criminal penalties and agree not to block license renewal.
“Many people have already taken advantage of amnesty by paying their back taxes, clearing their slates and getting off to a clean start,” Sullivan said.
As of Oct. 24, the Tax Division has received $3.2 million in public service corporation taxes, $1.8 million in personal income taxes, $1.3 million in corporate taxes and $784,456 in sales and use tax. The figures include tax and interest paid.