La. tax amnesty program estimates raising $169M
BATON ROUGE, La. (AP) — Louisiana's latest amnesty program for delinquent taxpayers is expected to bring in $169 million. That's more than lawmakers included in this year's budget, but not enough to close a midyear deficit that has emerged since then.
The Department of Revenue announced the tax amnesty program's projected haul Thursday, saying it processed more than 41,000 applications and settlements.
Of the $169 million, $27 million will stay with the revenue department, while the remaining $142 million will be available for Louisiana's budget.
More than $100 million of that was already spent in the budget year that ends June 30.
A little less than $40 million is left to help the state close its midyear budget deficit. But that's not nearly enough to close a gap pegged at $171 million.
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Posted on Fri, November 21, 2014
by Associated Press