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State officials said Wednesday that they've collected about $10-million in outstanding taxes during an amnesty program that lets tax scofflaws pay without penalty through October.
The program is aimed at bringing in extra revenue during the current economic downturn. In all, officials hope to reap $75-million in unpaid taxes, mostly from businesses, by waiving penalties, promising not to prosecute and giving a break on interest rates.
The amnesty, which began July 1, is the first in Florida since 1992.
Taxpayers who haven't paid still must pay their entire tax bill, but they can save about half of what they would owe because of the elimination of penalties. Also, their interest can be discounted, by anywhere from 25 percent to 50 percent, depending on the circumstances.
But after Oct. 31, it's no more Mr. Nice Guy.
The amnesty is a prelude to higher interest for those who don't pay on time.
Starting Nov. 1, annual interest rates on overdue state taxes, such as corporate income taxes, unpaid use taxes or estate taxes, will go from 4 percent to 8 percent.
"Our goal is to try and warn as many people as we can during these four months," said Revenue Department director Jim Zingale.
New technology at the department will also allow for better enforcement of tax laws once the amnesty is over, he said. |