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Mon January 4, 2010
Tennessee Tax Dodgers Offered Amnesty
By Angela Hatton
Nashville, TN – Tens of thousands of Tennessee businesses that have not been paying taxes could receive amnesty under a plan meant to get them on the state's books. The state Department of Revenue says it will waive penalties for businesses that have been dodging Tennessee's business tax. However, businesses must voluntarily register and agree to pay three years' back taxes. The Tennessean reports state officials are uncertain how much money the amnesty will bring in. Survey data suggest it should be several million dollars a year. The program, which started last month, comes after state officials discovered thousands of violations when they took over collections from local clerks this summer. Officials estimate that as many as 100,000 businesses statewide have been avoiding the business tax, often for several years.