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LOUISVILLE, KY. (WDRB) -- Kentucky's Finance and Administration Cabinet says it's gotten a "strong response" from its tax amnesty program. So far it has brought in just under $57 million. That number won't be final until the end of the fiscal year on June 30.
"More than 27,000 delinquent taxpayers from all 120 Kentucky counties and all 50 states participated," said Lori H. Flanery, Secretary of the Finance and Administration Cabinet. "This means we have 27,000 more taxpayers who are now compliant and have come clean with the Commonwealth of Kentucky."
The Department of Revenue says the largest amnesty payment was $6 million, with the average payment being $1,300 for individuals and $3,300 for businesses. About 1,500 taxpayers set up payment plans, which have to be completed by May 31, otherwise their interest, penalties, and fees return.
"Our goal with this amnesty program was not only to achieve the amount we projected, but to make it easy for taxpayers to comply," said Tom Miller, Commissioner of the Department of Revenue.
From the Kentucky Dept. of Revenue:
Following are additional facts and figures about Kentucky's amnesty program:
60 percent of applications were from businesses; 40 percent from individuals.
86 percent of applications were from in-state versus out-of-state.
The top five counties for number of applications received were Jefferson, Fayette, Kenton, Boone and Oldham.
Beyond the Commonwealth, the top five states for number of applications received were Ohio, Indiana, Florida, Tennessee and Illinois.
The 61-day amnesty program ran from Oct. 1 to Nov. 30, 2012.
More than 175,000 packets were sent out to delinquent taxpayers.
Amnesty participants must remain current over the next three years or face reinstated penalties, fees and interest.
Those who did not participate in amnesty face stiffer fees and additional interest.
An extensive advertising and public relations campaign generated awareness of the amnesty program.
This was the third amnesty program ever offered to delinquent Kentucky taxpayers.