Tax Amnesty Could Generate Extra $20M in Missouri Next Year

Mar 5, 2015

Credit 401 (K) 2013 / FLICKR

A measure that would waive penalties if Missourians agree to pay back taxes has initial approval from the state House. 

House members in a voice vote on Wednesday gave support to the tax amnesty proposal by lead budget writer Rep. Tom Flanigan of Carthage. The measure needs a second vote before it can head to the Senate.

Delinquent taxpayers would need to pay their bills between July 1 and Sept. 30 to qualify. They also would need to comply with state tax laws for the next eight years. Unpaid taxes dating before Dec. 31 would be eligible for pardon.

The Legislative Research Committee estimates the proposal could mean nearly $20 million or more in additional revenue next fiscal year.