By Keith Goble, Land Line state legislative editor
Colorado is offering most tax delinquents a break to entice them to pay up. However, the state is not looking the other way on taxes owed by truckers.
The Colorado Department of Revenue is promoting a tax amnesty program they hope will net the state $12.6 million. Starting Oct. 1, people and businesses who owe taxes that were due last December will have 45 days to pay up at half the interest rate. In addition, they can pay without penalty or criminal prosecution.
The amnesty period, which runs through Nov. 15, is a result of a bill passed earlier this year by state lawmakers. Taxes collected in the state eligible for the amnesty include state sales and use tax; severance taxes; personal, corporate, partnership and fiduciary income taxes.
Taxes ineligible for amnesty are the International Fuel Tax Agreement, the International Registration Program, and the Passenger Mile Tax. The amnesty also does not include 2010 Colorado income tax, which was due in April.
Revenue from the amnesty program will be deposited into the state’s education fund. The fund is used to support K-12 education.
This is the second time in the past decade that an amnesty period has been offered to collect taxes. In 2003, the state collected more than $23 million in overdue taxes.
More information on the program, including what types of tax are covered under the amnesty, is available online.
To view other legislative activities of interest for Colorado, click here.
Editor’s Note: Please share your thoughts with us about the story topic. Comments may be sent to firstname.lastname@example.org.
Copyright © OOIDA