Rhode Island Opens Tax Amnesty Window by David C. Morganelli, Esq. and Ryan W. Sawyer, Esq.

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The Rhode Island General Assembly recently passed the “2012 Rhode Island Tax Amnesty Act" which was promptly signed into law by the Governor on June 15, 2012. The Amnesty Act authorizes the Rhode Island Division of Taxation to run a tax amnesty program from September 2, 2012 through November 15, 2012 that will allow certain taxpayers to pay the full amount of overdue taxes plus seventy-five percent of the usual interest rate on past due taxes. The remaining interest and any penalties otherwise due will be waived.

The program will cover taxable periods ending on or before December 31, 2011. Amnesty will apply to “any tax imposed by reason of or pursuant to authorization by any law of the state of Rhode Island and collected by the tax administrator.” For example, the program applies to the following types of taxes...

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