A reminder from the state comptroller’s office urges owners of local businesses with overdue taxes to participate in the state’s “Fresh Start” amnesty period, which begins Tuesday.
The tax amnesty period runs through Aug. 17, and applies applies to sales tax, franchise tax and other state or local taxes or fees administered by the comptroller’s office (except Public Utility Commission gross receipts assessments).
It covers taxes and fees that were originally due before April 1, 2012. A press release explained that business owners can file missing tax reports and pay the overdue taxes, or amend and pay previous reports in which they had incorrectly stated a lower amount than was due.
The release added that the amnesty does not apply to underpaid tax returns (tax that was reported but not paid) or filing periods that businesses have in audit.
The comptroller’s office originally released information about this amnesty program in late March, and explained that a similar program was held during the summer of 2007, and brought the state $100 million in unpaid tax revenue.
For more information, visit www.freshstart.texas.gov or call 1-800-252-1390.