- Posted July 25, 2011
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Tax amnesty plan raises about $76M for Michigan
LANSING (AP) -- Michigan's recent tax amnesty program generated about $76 million for the state, treasury officials said last Thursday, roughly $12 million less than budgeted.
The current state budget assumed that $88 million would be generated through amnesty. But the program was more successful than a 2002 program that netted the state roughly $30 million.
State Treasurer Andy Dillon said in a statement he was "very pleased with the success" of the tax amnesty program. Dillon said that based on preliminary data the campaign raised more than $62 million for the state's general fund and another $14 million for the school aid fund for this fiscal year.
A final analysis of the 45-day tax amnesty program is expected within the next several weeks.
The program giving delinquent taxpayers a chance to avoid penalties if they paid their tax bills ended June 30. Amnesty was available for individual and business taxpayers covering return periods before 2010.
Most state taxes were covered including the income tax, the sales tax, the Michigan Business Tax and tobacco taxes. Amnesty applications related to the Michigan Business Tax brought in the most revenue at more than $23 million.
More than 15,000 different taxpayers submitted tax amnesty applications covering more than 37,000 tax returns overall.
The state spent about $1.5 million on a public campaign for the amnesty program including TV, radio and other advertising aimed at reaching delinquent taxpayers.
Published: Mon, Jul 25, 2011
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