Nevada Tax Amnesty Program Goes Into Effect

CARSON CITY, Nev. (AP) - Nevada Gov. Jim Gibbons is touting a tax amnesty program that began this week as a method for bringing
additional revenue to the cash-strapped state.

The Republican governor originally proposed the tax amnesty program in May as a way to collect a fraction of some $69 million in delinquent businesses taxes.

In a statement issued Tuesday, Gibbons notes the idea received Nevada Tax Commission approval in June and the state Legislature last Friday factored $4 million from the program toward closing a $275 million state budget deficit.

Through Sept. 30, the state will suspend interest and penalties on delinquent sales and use taxes, and business taxes and license fees.

Gibbons says he expects the program will reap "several million dollars."

The last large-scale state tax amnesty program in Nevada, in 2002, brought in about $7.3 million.

(Copyright 2008 by The Associated Press. All Rights Reserved.)