Press Room: Tax Release

August 12, 2015

Don’t Delay - Tax Amnesty is on the Way

Taxpayers will soon have a limited time opportunity to participate in tax amnesty programs in a number of states. The amnesty programs allow taxpayers to file and pay taxes related to a number of prior year filings in exchange for forgiveness of penalty (and sometimes interest) and avoidance of criminal prosecution. Many states have enacted these amnesty programs as a means of generating additional revenue for their financially constrained budgets. 

Each amnesty program is state specific with varying dates, tax types, and benefits. The following is a summary of the states’ upcoming amnesty programs:

State

Effective Dates

Tax Types

Penalties Waived

Interest Waived

Arizona
9/1/2015 – 10/31/2015
- Income Taxes
- Sales & Use Tax
- Various Other Taxes          
Yes Yes
Indiana 9/15/2015 – 11/16/2015 - Income Taxes
- Sales & Use Tax
- Withholding Taxes
- Various Other Taxes
Yes Yes
Kansas
9/1/2015 - 10/15/2015
- Income Taxes
- Sales & Use Tax
- Withholding Taxes
- Various Other Taxes

Yes

Yes
Louisiana
TBD – 1 month before the
end of 2015
- Income & Franchise Taxes               
- Sales & Use Tax
- Withholding Taxes
- Various Other Taxes
33% of penalties
waived
17% of interest
waived
Maryland
9/1/2015 - 10/30/2015
- Income Taxes
- Sales & Use Tax
- Withholding Taxes
Yes 50% of interest
waived

Massachusetts

TBD – 60 day period ending
 on or before June 30, 2016
- TBD Yes No
Missouri
9/1/2015 – 11/30/2015
- Corporate Franchise Tax
- Income Taxes
- Sales and Use Tax
- Various Other Taxes
Yes Yes
Oklahoma
9/14/2015 – 11/13/2015
- Income Taxes
- Sales & Use Tax
- Withholding Taxes
- Various Other Taxes
Yes Yes
South Carolina TBD - Income Taxes
- Sales & Use Tax
- Various Other Taxes
Yes Yes

In conclusion, each state’s amnesty period is only available for a limited time.