INDIANAPOLIS (AP) - Indiana’s tax amnesty program last year brought in more than twice as much revenue as the General Assembly expected and cleared the delinquent status of about 77,000 individual and business taxpayers, the state Department of Revenue said.
The final tax amnesty report released by the agency Wednesday shows that the state collected $188.5 million in back taxes during the eight-week amnesty period by agreeing to waive late fees, interest and penalties on the delinquent payments.
That was more than double the $90 million anticipated by the General Assembly and represented a third of amnesty-eligible liabilities, The (Northwest Indiana) Times reported (https://bit.ly/2cOqG4s ). A similar tax amnesty program in 2005 collected 19 percent of such liabilities.
Out-of-state individuals and companies paid more in late taxes, $130.4 million, than those in Indiana, $58.1 million. Amnesty participants came from every county in the state and every state in the union, as well as Washington, D.C. and the Virgin Islands.
While most of the owed taxes were less than a decade old, records show there were 2,552 taxpayers who paid off a combined $1,379,273 in taxes incurred prior to 1991, the Revenue Department said.
Under a law adopted by the Republican-controlled General Assembly and enacted by Republican Gov. Mike Pence, $126 million collected through the tax amnesty is being spent on Regional Cities grants to pay for infrastructure or amenities that could help regions centered around South Bend, Fort Wayne and Evansville attract business and new residents.
Another $29.9 million has been deposited in the state pension fund, $6 million is supporting the Hoosier State Amtrak line from Indianapolis to Chicago, and the remaining money is unappropriated.
Please read our comment policy before commenting.