NJ rolls out tax amnesty in bid to raise money

May 4, 2009 6:03:55 AM PDT
New Jersey is giving tax delinquents a fresh start if they pay up by next month. The state government is in a budget crisis, so it's trying to bring in all the money it can.

The latest is an offer for most taxpayers who are behind in their payments. The state will waive penalties and some interest for returns due on or after Jan. 1, 2002, and before Feb. 1, 2009.

Those under criminal investigation for state tax matters are not eligible.

Gov. Jon Corzine says he hopes to raise at least $100 million with the amnesty.

That's not nearly enough alone to cover an expected budget shortfall of up to $2 billion over the next 14 months.

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Information from: The Star-Ledger, http://www.nj.com/starledger

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