Missouri House approves tax amnesty period
JEFFERSON CITY, Mo. (AP) — Missouri House members have approved a tax amnesty period that could help delinquent taxpayers and boost state revenue.
The proposal is estimated to bring in $75 million and has been factored into budgets proposed by Democratic Gov. Jay Nixon and the Republican-led House.
Under the proposal, officials would waive the interest and penalties for those who pay their tax bills between Aug. 1 and Oct. 31. Taxpayers who take advantage of the amnesty would need to comply with state tax laws for the next eight years, or they would owe the penalties and interest that were waived. Participants would not be eligible for a future amnesty for the same tax.
On Wednesday, the House passed the measure 153-1. The legislation now moves to the state Senate.
Tax amnesty is HB55