The five-week old state tax amnesty program has generated more than $40 million. The program began Sept. 1 and is set to expire Oct. 31.
The Louisiana Department of Revenue said collections outpace the 2001 amnesty period in payments as well as the number of taxpayers taking advantage of the program. The goal is $150 million. Department officials said most of the money is expected to come in during the final weeks. The total includes $32.3 million from businesses and $8.1 million from individual taxpayers.
Businesses and taxpayers that pay all their back taxes before the amnesty ends will void 50% of the interest they owe, along with 100% of the penalties. The amnesty period covers taxes incurred between July 1, 2001 and Jan. 1, 2009.