Rhode Island Tax Amnesty Approved by House
- Jun 11, 2012 | Will Frei
UPDATE: 6/14/2012 The Senate approved the Rhode Island budget bill (H 7323).
If the bill becomes law, the tax amnesty program will last 75 days, ending November 15, 2012. During this time, businesses who owe delinquent sales taxes ". . . for any taxable period ending on or prior to December 31, 2011 . . .," may apply for amnesty from monetary penalties and civil or criminal prosecution. To qualify, they must pay the taxes and interest owed the Department, or set up a payment plan for the amount owed.
Interest on delinquent taxes paid under the tax amnesty program will be calculated ". . . at the rate imposed under section 44-1-7, reduced by twenty five percent (25%)" [link added].
Taxpayers under criminal or civil investigation in any court of the United States may not apply.
Learn about other sales tax changes proposed in the bill.