Missouri Proposed Tax Amnesty Bill Passes House
- Mar 5, 2012 | Susan McLain
Tax Analysts reports that Missouri House Bill 1030 has passed the Missouri House of Representatives and is now moving to the Senate. According to the Missouri Budget Project, the “…bill would allow residents and companies to pay delinquent taxes without penalties or interest for a short period of time.”
If passed, the bill would allow amnesty to qualifying businesses from August 1, 2012 to October 31, 2012 “…regardless of whether previously assessed, except for penalties, additional to tax, and interest paid before August 1, 2012. The amnesty shall apply only to state tax liabilities due or due but unpaid on or before December 31, 2011.”
Certain restrictions apply. The taxpayer should not be under criminal investigation or involved in any civil or criminal litigation for “…nonpayment, delinquency, or fraud in relation to any state tax imposed by this state.”
We’ll keep watch and update this blog if the Senate passes the bill and it head to the governor.