Missouri House endorses tax amnesty period
Missouri House members have endorsed legislation to offer amnesty to delinquent taxpayers.
The measure would waive interest and penalties for those who pay their tax bills between Aug. 1 and Oct. 31. Supporters estimate the measure could bring in as much as $74 million to the state. Plus, they say it would give individuals and companies an opportunity to wipe their slate clean.
The legislation gained first-round approval Wednesday and needs another vote before moving to the Senate.
Gov. Jay Nixon also has backed a tax amnesty proposal. The measure supported by Nixon would waive all penalties but only half the interest. The amnesty also would apply only to delinquent tax bills for which the Department of Revenue was not already aware.