Friday, June 11, 2010

Florida Enacts Amnesty Program

The Governor of Florida signed H5801 into law on May 28, 2010 which created an Amnesty Program.

The amnesty program runs from July 1, 2010 to September 30, 2010. Under the program, eligible taxpayers may satisfy their state tax liabilities and avoid criminal prosecution and penalties. In addition, interest may be decreased up to 50% in certain cases.

Eligible Taxes

The taxes eligible under the program are: sales tax, fuel tax, corporate income tax, communications services tax, gross receipts tax, and Florida intangible tax.

Taxpayers Under Audit

Taxpayers who are currently under audit or have been contacted for audit, may still apply for amnesty; however, taxpayers will be required to pay the tax and 75% of the interest due.

Taxpayers Who Have Not Been Contacted

Taxpayers who have not been contacted by the state of Florida and come forward during the amnesty period, will be required to pay the tax and 50% of the interest due.

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