Monday, May 5, 2008 | 3:41 p.m.
In an effort to increase state revenue in a time of budget crises, Gov. Jim Gibbons is proposing a tax amnesty program to collect millions of dollars in delinquent taxes and bring additional business into Nevada's tax system.
The program would waive all interest and penalties normally assessed on delinquent sales and use taxes, modified business taxes and business license fee. Individuals and businesses would still be required to pay all underlying taxes.
According to the governor, doing this will "entice full payment of outstanding back taxes while encouraging businesses not already registered with the state to do so."
While the governor did not say how long the program would be implemented for, he indicated July 1 as a start date.
The proposal would not be the first large scale tax amnesty program held in Nevada. In 2002, $7.3 million in revenue was generated by a similar program. In 1993, a program similar to that proposed by Gibbons raised more than $2.8 million.
The Nevada Tax Commission was scheduled to meet today about the proposal.