The New Jersey Division of Taxation has proposed new rules clarify a Corporation's recordkeeping requirements under state tax laws. The proposal would provide that corporations are required to maintain all records used to determine their Corporation Business Tax liability and such other records as the Director of the Division of Taxation may require.
Pennsylvania's Tax Amnesty period from April 26 to June 18, 2010. During this limited, 54-day timeframe, the Pennsylvania Department of Revenue will waive 100 percent of penalties and half of the interest for anyone who pays his/her delinquent state taxes. Individuals, businesses and other entities with Pennsylvania tax delinquencies as of June 30, 2009, are generally eligible to participate in the Tax Amnesty Program. Under the amnesty program, the Pennsylvania Department of Revenue will waive 100 percent of penalties and half of the interest for taxpayers paying delinquent state taxes under the amnesty program.
The City of Philadelphia will offer a tax amnesty program from May 3rd to June 25th, 2010. During amnesty, Philadelphia will waive all penalties and half the interest due on eligible delinquent tax bills. This will allow taxpayers the opportunity to clear up their debts and avoid further enforcement activities, including additional penalties and prosecution. Most taxes of the City of Philadelphia are eligible for tax amnesty.
