Rhode Island will offer a state tax amnesty for 75 days – from September 2, 2012, through November 15, 2012. The amnesty will be open to all taxpayers who are delinquent on any state taxes – such as personal income tax, sales and use tax, corporate income tax, or unemployment insurance tax.
For taxpayers whose amnesty applications are accepted, the Tax Administrator generally will waive all related penalties – and reduce the applicable interest rate by 25 percent. Thus, the interest rate of 18 percent that applied for 2011, for example, would be reduced to 13.5 percent. The amnesty will be open to any taxpayer who pays the tax and interest due upon filing the amnesty tax return, or who enters into a bona fide installment payment agreement for reasons of financial hardship. The Tax Division will develop and post the form to be used by amnesty applicants.
The Tax Administrator must provide a written analysis of the amnesty program by January 1, 2013, to the chairs of the House and Senate Finance Committees, with copies to the members of the revenue estimating conference.
Effective: July 1, 2012
Citation: New Rhode Island General Laws (RIGL) Chapter 44-6.4