Tax Amnesty Program Nets State Over $76M

LANSING (WWJ)– More than 15,000 taxpayers have “fessed up” to the state of Michigan. The State Treasury Department says Michigan’s 45-day Tax Amnesty program has netted the state more than $76 million dollars.

Taxpayers had penalties waived if they paid back taxes and interest in full by then. The bulk of the money came from the Michigan Business Tax, Income Tax, and Sales Tax returns.

“While Treasury will not have a final analysis for several weeks yet, I am very pleased with the success of the 2011 Tax Amnesty program,” said State Treasurer Andy Dillon in a statement.

“Based on what is still preliminary data, Tax Amnesty generated more than $62 million for the state’s general fund and another $14 million for the school aid fund this fiscal year,” he said

The Tax Amnesty  program ran mid-May through the end of June. The Department of Treasury is expected to release a complete analysis of the  program later this year.

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best 4th Of July Concerts In Metro DetroitStaying home this weekend? Celebrate the 4th of July by rocking out at one of these shows.
Hump Day Drinks: 8 Cheery Cocktail RecipesNow that you've made it through half the work week, it's time to celebrate!

Watch & Listen