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Connecticut Tax Amnesty: An Opportunity for Everyone

Fairfield County Business Journal

May 11, 2009

Authors: Alan E. Lieberman

From May 1, 2009 through June 25, 2009, individuals and businesses with Connecticut tax exposure will have an opportunity to apply under  the Connecticut tax amnesty program to pay their back taxes at a reduced interest rate, without the imposition of penalties or the threat of criminal prosecution.

The bill providing for the tax amnesty program was enacted by the Connecticut General Assembly during a special November legislative session as part of a package to address the projected state budget deficit for the current fiscal year and is expected to raise $40 million. Prior Connecticut tax amnesty programs generated approximately $90 million in 1990, $46.1 million in 1995, and $22 million in 2002.

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