Last Chance for Tax Amnesty in NH

New Hampshire taxpayers are approaching their last chance to pay outstanding taxes without penalty and with 50 percent of accrued interest. An initiative launched in December to raise millions of dollars in critical revenue for the NH General Fund, the NH Department of Revenue Administration (DRA) Tax Amnesty Program is open to any individual or business, but the deadline of Feb. 15, 2016 is fast approaching.

According to John Beardmore, commissioner of the Department of Revenue Administration, 11,485 tax notices are in collection status totaling $23.9 million in outstanding taxes. The average outstanding tax notice amounts to $2,081. Business taxes account for the largest portion with 4,266 notices totaling $14.1 million in overdue taxes. That is followed by Meals and Rooms taxes with 5,812 notices totaling more than $6 million outstanding.

“We established a similar amnesty program in 2001 that resulted in nearly $15 million in revenue to the state,” says Beardmore. “About 80 percent of New Hampshire’s general taxes are used to fund critical programs and services including education and health services, so we are hoping to see a significant portion of those outstanding taxes appear.”

To take advantage of the DRA Tax Amnesty Program, taxpayers must file any required outstanding tax returns and pay all unpaid taxes and 50 percent of applicable interest by Feb. 15, 2016. An online interest calculator is available on the DRA website at http://revenue.nh.gov/amnesty/tax-calculator.htm.

Amnesty is available to any taxpayer who has a delinquent tax return or has not paid a tax which was due on or before Feb. 15. This applies to anyone with an outstanding tax notice, including those in the appeal process. “We urge taxpayers to take advantage of this program now, as this will be the last chance to pay outstanding taxes before all penalties become mandatory,” Commissioner Beardmore adds. “This is a great opportunity to do what’s right for New Hampshire and free yourself from outstanding taxes.”

DRA administers a variety of taxes, including Business Enterprise Tax, Business Profits Tax, Interest & Dividends Tax, Meals and Rooms Tax, Communications Services Tax, Electricity Consumption Tax, Real Estate Transfer Tax, Tobacco Tax, Smokeless Tobacco Tax, Utility Property Tax, Railroad Tax, Private Car Tax, Nursing Facility Quality Assessment and Medicaid Enhancement Tax. DRA collected $1.9 billion in revenue during Fiscal Year 2014 to support the NH General Fund.

For more information, visit http://revenue.nh.gov/amnesty, or call Central Tax Services at 603-230-5920.