Initial figures are showing that Kentucky’s tax amnesty program has been successful
Initial figures from Kentucky’s Tax Amnesty program show a strong response from delinquent taxpayers. Actual and estimated receipts of $56.9 million slightly exceed the budgeted amount of $56.7 million. However, total revenue attributed to amnesty will not be conclusive until the end of the fiscal year, which is June 30.
More than 27,000 delinquent taxpayers from all 120 Kentucky counties and all 50 states participated.
According to the Department of Revenue, the largest payment under amnesty was $6 million. The average payment was $1,300 for individuals and $3,300 for businesses.