Bill > H2559

This bill establishes a tax amnesty program for corporations, allowing the commissioner of revenue to waive all penalties that could be assessed for failures to file returns, pay taxes, or make estimated payments, provided the taxpayer comes into compliance with tax laws. This program, which will run for two consecutive months in fiscal year 2015 with all payments due by June 30, 2015, will cover corporate excise taxes and other tax types determined by the commissioner, with a limited look-back period for unfiled returns. However, amnesty will not apply to taxpayers under criminal investigation or prosecution, those who submit fraudulent documents, or for interest charges. The bill also outlines penalties for fraudulent applications and requires taxpayers who have postponed tax payments to waive their rights to further delay payment to participate. The commissioner will report on the program's outcomes, excluding individual taxpayer information, and will prevent participants from using future amnesty programs for 10 years.