Tax amnesty New Jersey Indiana New Mexico

ALERT: Tax amnesty programs available in three new states

November 30, 2018

Those with underreported tax liabilities in these three states (IN, NJ, NM) now have an opportunity to participate in tax amnesty programs.

Have you been doing business in Indiana, New Jersey or New Mexico but have been concerned with registering with the state? Do you have underreported tax liabilities in these states? If you answered yes to either of these questions, there is no need to explain because you now have an opportunity to participate in the states’ tax amnesty programs.

What are tax amnesty programs?

Through the amnesty programs, the states are authorized to waive penalty and/or interest on most taxes and fees administered by the revenue collection agencies, including sales and use taxes, franchise taxes, severance taxes and most fuel taxes.

What are the dates for these three states' amnesty programs?

The tax amnesty programs for each state run as follows:

  • Indiana: May 2, 2018 through December 31, 2018
  • New Jersey: November 15, 2018 through January 15, 2019
  • New Mexico: November 8, 2018 through December 31, 2018

The programs are available to both registered and non-registered taxpayers. They are not available to taxpayers who are currently under audit. In addition, it does not apply to established tax liabilities.

You should note that, in general, if you fail to take advantage of a state’s amnesty program, you may be ineligible for the state’s voluntary disclosure program and may be subject to increased failure-to-participate penalties if audited by the state.

Next steps

For more information on what this could mean for your organization, contact Jerry Capps, senior vice president of state and local tax, using the information below.

Gerald Capps, JD

Senior Vice President
State & Local Tax Services

Jerry Capps and his State and Local Tax (SALT) team provide sophisticated state and local tax planning, strategic advice and advocacy to numerous mid-market, Fortune 100 and industry-leading companies. The team has returned many millions of dollars in one-time and recurring tax savings to companies.

In addition to planning and compliance, the SALT practice includes legislation and policy, litigation, and controversy matters involving income, franchise, sales and use and property taxes. His work involves critical questions on nexus, apportionment, the Multistate Tax Compact, and the equal protection, due process, and commerce clauses of the United States Constitution. Capps is also a respected advocate on issues of tax policy. He represents clients in all phases of state and local tax controversy, including audit assistance and administrative hearings, and he provides counsel on state and local income and transactional costs for mergers, acquisitions and corporate reorganizations. He has been engaged as a keynote speaker for organizations including the Institute for Professionals in Taxation, state and local CPA societies, university and professional accounting conferences, and chambers of commerce.

Capps is a member of the Institute for Professionals in Taxation, the Kansas Society of Certified Public Accountants, the American Bar Association, and the Kansas Bar Association.

NOTE: Any advice contained in this material is not intended or written to be tax advice, and cannot be relied upon as such, nor can it be used for the purpose of avoiding tax penalties that may be imposed by the IRS or states, or promoting, marketing or recommending to another party any transaction or matter addressed herein.

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