DENVER (CBS4) – Tuesday was the deadline for businesses to come forward under the state’s tax amnesty program.

CBS4’s news partners at the Denver Business Journal report the results so far have been disappointing.

Gov. John Hickenlooper signed a bill this summer creating a 45-day grace period. It allowed businesses to pay any back taxes with no criminal or civil penalties, and only half the interest.

At the time the state hoped to collect up to $15 million. But as of last Friday only about $804,000 in back taxes had been paid. That doesn’t even cover the million dollars it cost to administer the program. Any money above that will go to the state education fund.

denver business journal Colorados Business Tax Amnesty Program A DisappointmentRead more on the website of CBS4 partner the Denver Business Journal.


Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s