HARTFORD, Conn. (WTNH)–Connecticut is launching another tax amnesty program that is especially targeting businesses that may have never filed taxes in the state.
It is a voluntary compliance plan that is part of the new state budget. The plan waives penalties, and cuts the interest owed on back taxes by 50 percent.
“We’re going to reach out to a population that essentially has either not filed with the department of has under-reported to the department,” said Commissioner Kevin Sullivan of the Department of Revenue Services.
Related Content: Malloy, lawmakers to meet on how to fix budget deficit
The so-called “Fresh Start” tax amnesty program is expected to bring in about $85 million over the next two years.