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Tue February 16, 2010
NM Senate SupportsTax Amnesty
By KRWG News
New Mexico – Delinquent taxpayers could pay what they owe without penalties under a tax amnesty proposal approved by the Senate.
The legislation would allow the Taxation and Revenue Department to establish a 90-day period this year during which individuals and businesses could pay their unreported taxes without penalties or interest.
Supporters say the program is a way for New Mexico to potentially collect more tax revenues to help ease the state's budget problems.
The bill's sponsor, Sen. Phil Griego, a San Jose Democrat, said the state received about $48 million through a tax amnesty program offered in 1999.
The measure unanimously passed the Senate on Monday and went to the House for consideration.
The tax amnesty bill is SB180.
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Copyright 2010 The Associated Press.