Corporate Tax Amnesty Begins
As you know, DOR launched a sixty-day tax amnesty program beginning March 16 for corporate and other eligible taxpayers to get caught up on past due tax bills. Over 20,000 qualifying taxpayers received a Tax Amnesty Notice from the Department notifying them that they qualify for the program. Through May 15, 2015, these taxpayers will have the opportunity to pay their tax amnesty balance in full and waive unpaid penalties. Tax types covered in this amnesty include corporate excise (including financial institutions, insurance, public utilities, and banks), estate taxes, fiduciary income taxes and individual use tax on motor vehicles.
Understanding Use Tax
Taxpayers are very familiar with sales tax. Businesses collect it, consumers pay it. Most of us get that. Not so with use tax – very few understand how or when to pay it and we want to make compliance easy for both individuals and businesses. We set up information pages for taxpayers to understand what use tax is, what types of purchases are included, when they must pay it and how to report it.