State Tax Assessment
Wednesday, March 10, 2004
Project Pay Up targets delinquent business owners
Austin Business Journal
"Texas business owners who owe taxes can pay their bills with no penalty or interest through a new program that the Texas Comptroller's Office believes will generate $59 million in delinquent tax revenue.
The "Project Pay Up" amnesty period will run from March 11 through March 31 and will apply to any sales tax, franchise tax and all other state and local taxes and fees that were due before February 1."
COMMENT:
Note that this amnesty does NOT include unclaimed property.
The last amnesty period was in 1991. At that time, it was determined that the amnesty provisions waiving penalty and interest applied to businesses under audit. Therefore, if you are currently being audited by the Texas Comptroller, you should consider closing out the audit and paying the tax prior to the end of the month.
