Dec 10, 2015 3:58 PM
Those owing taxes can take part in one-time amnesty program
The Associated Press
CONCORD (AP) — People or businesses that owe outstanding taxes in New Hampshire have a one-time chance to pay without penalty as part of an effort that could raise as much as $16 million in revenue for the state.
The Department of Revenue Administration's Tax Amnesty Program started Dec. 1 and runs through Feb. 15, 2016. Lawmakers established it during the 2015 legislative session.
The program also offers the chance to pay up with only 50 percent of accrued interest.
A similar program was run in 2001, raising nearly $15 million in revenue.
Department Commissioner John Beardmore said 11,485 tax notices are in collection status totaling $23.9 million in outstanding taxes. The average outstanding tax notice amounts to $2,081.
Business taxes account for the largest portion with 4,266 notices totaling $14.1 million in overdue taxes. That is followed by Meals and Rooms taxes, with 5,812 notices totaling more than $6 million outstanding.
The department gave this example: If a taxpayer failed to pay a $1,000 Interest and Dividends Tax due in April 2013, that taxpayer currently owes a total of $1,483.44, between the original bill and penalties and interest. Using the Tax Amnesty Program, that taxpayer would pay $1,066.72, saving a total of $416.72.
"We urge taxpayers to take advantage of this program now, as this will be the last chance to pay outstanding taxes before all penalties become mandatory," Beardmore said.