PROVIDENCE – Rhode Island collected a total of $22.38 million in back taxes under this fall’s tax amnesty program, the R.I. Department of Revenue said Wednesday.
The total, which exceeded the office’s original total estimate of $17.19 million by $5.19 million, more than doubled the amnesty’s budgeted estimate for the current fiscal year.
The collections also exceeded the $9.88 million collected during the last amnesty program in 2006.
“The amnesty program was an overwhelming success,” Tax Administrator David M. Sullivan said in prepared remarks. “We are also delighted that so many taxpayers took advantage of the opportunity to clean their slates and get a fresh start.”
There were 7,752 applicants for the amnesty under the program, which ran from Sept. 2 through Nov. 15. The amnesty program waived penalties and reduced interest on back taxes by 25 percent.
The program’s final tally was included in the amnesty report that the Division of Taxation delivered on Dec. 31 to the House and Senate finance committees.
Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.