|
October 7, 2008
submitted
(Carson City, NV) -- At the request of Governor Jim Gibbons today, the Nevada Tax Commission extended for nearly one month the duration of the Governor’s tax amnesty program, which has generated more than $27 million, far exceeding the original estimate.
The Governor proposed the program in May and it took effect July 1, giving businesses with outstanding sales and use taxes, business license fees and modified business taxes the opportunity to pay their obligation without penalties or interest. The program also enticed non-licensed businesses to register with the state and pay back taxes.
During the Special Session of the Legislature in June, lawmakers allocated $4 million from the amnesty program to help balance the budget. Those amnesty payments have now exceeded $27.3 million.
“This program has far surpassed any expectations we had for it,” the Governor said. “With this strong show of willingness by taxpayers to come forward, I asked the Nevada Tax Commission to extend the emergency regulations to the full 120 days available by law. This will allow additional businesses to come forward and take advantage of this great opportunity.”
The Governor also thanked all the employees of the Nevada Department of Taxation who worked extremely hard processing applications and going so far as to hand-deliver documents to businesses wanting to take advantage of the program.
“This success couldn’t have been achieved without the hard work of these state employees, and I’d personally like to thank them for the role they played in helping the state during this budget crisis,” Gibbons said. “Each dollar this program brings in is a dollar that stays in education, health care and other critical pubic services.”
|
