Establishes a voluntary disclosure program to encourage taxpayers to register and pay taxes.
The bill creates a formal voluntary disclosure program within the Department of Revenue to encourage taxpayers to register and pay taxes. It waives penalties and interest for those who voluntarily disclose unregistered taxable activity. The program aims to increase taxpayer participation, similar to a previous amnesty program that generated $345,800,000 and involved over 5,000 taxpayers. The program is effective July 1, 2025.
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