Rep. Bryant Sheds Light on Property and Franchise-Tax Amnesty Programs, Highlights Key Business Reforms

MURPHYSBORO – Early this summer, Governor JB Pritzker signed legislation that passed in the spring 2019 Legislative Session, establishing a an “amnesty” program for the payment of certain taxes.

State Representative Terri Bryant (R-Murphysboro) voted in support of SB 689, which amends the Illinois Tax Delinquency Amnesty Act and provides the opportunity for taxpayers to pay certain outstanding tax liabilities and to have penalties and interest waived for taxes paid in full during the amnesty period.

“SB 689 earned bipartisan support in both the House and Senate because the bill contained several business and taxpayer-friendly measures. Two that I’m highlighting are the property tax and franchise tax amnesty programs,” Bryant said. “The Department of Revenue will offer an amnesty program starting October 1, 2019, and ending November 15, 2019. The amnesty will cover any tax liabilities due after June 30, 2011, and prior to July 1, 2018. That includes unpaid property taxes and franchise taxes.”

Rep. Bryant says taxpayers taking part in the amnesty program will receive abatement of all associated penalties and interest, and assurance that the Department of Revenue will not proceed with any civil or criminal prosecutions in regard to the taxes paid.

“The property tax amnesty program will help people keep their homes and avoid costly penalties and interest on unpaid property taxes,” Bryant said. “The program also has the effect of bringing in old revenue and getting the property owner back on the right side of the law without serious consequences. It’s a win-win and a common sense approach to help those people struggling to afford their high property tax bills.”

Bryant says the property and franchise tax amnesty program are just two positive aspects of SB 689, now Public Act 101-0009.

“In the waning hours of the spring 2019 Legislative Session, House Republicans won multiple key business reforms that will help spur industry and job growth in Illinois,” Bryant said. “These reforms include a repeal of the franchise tax, a reinstatement of the manufacturer’s purchase credit, enactment of the Blue Collar Jobs Act which provides tax credits to companies that hire blue collar workers, the creation of a Data Center Tax Incentive, that will enhance the state’s ability to locate data centers in Illinois through tax incentives, and extensions of the property and franchise tax amnesty programs.”

Illinois taxpayers and business owners interested in learning more information on the tax amnesty programs can visit https://www2.illinois.gov/rev/research/news/Pages/2019-Illinois-Tax-Amnesty-Program.aspx

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