Delaware’s one-time tax amnesty program is anticipated to net more than $22 million for the state, more than double its original estimate.
The two-month long partnership between the Delaware Division of Revenue and the General Revenue Corporation, a subsidiary of Sallie Mae Corporation, is expected to clear more than 14,000 delinquent accounts, Gov. Jack Markell said Thursday, Nov. 5 at a press conference outside Sallie Mae’s in Newark.
When the program was authorized this summer, estimates called for $10 million to be collected.
The 2009 Voluntary Tax Compliance Initiative ran from Sept. 1 through Oct. 30. During this time, any individual or business taxpayer who registered to pay their current outstanding Delaware tax liability before June 30 was freed of their penalty and interest fees.
Delaware netted more than $15 million in cash payments through Oct. 30, with an estimated $7 million registered in payment plans to be paid before June 30.
"Now that the amnesty is finished, however, the state is going to vigorously work to collect unpaid taxes from those who did not come forward,” said Acting Secretary of Finance Tom Cook said.
