Nevada’s Assembly Bill No. 6, which was signed by the Governor on March 12, 2010, provides for a tax amnesty program

The Program begins July 1, 2010 and ends September 30, 2010.

Nevada’s Assembly Bill No. 6, which was signed by the Governor on March 12, 2010, provides for a tax amnesty program (“Program”). The Program begins July 1, 2010 and ends September 30, 2010.

During the amnesty period, the Department of Taxation (“Department”) will waive the penalty and interest on delinquent taxes, fees, and assessments. Nevada’s penalty on unpaid taxes is a maximum of 10%. Interest accrues at 1% per month. Nevada’s penalty on unpaid taxes varies from 2% to 10%, depending on the tax and the number of days the payment is late. In addition, the state can add another penalty of 10% when it determines that a tax deficiency is due to negligence.

Amnesty is available for taxes, fees, and assessments due before July 1, 2010. Taxpayers must apply for amnesty and pay the amount due during the amnesty period of July 1 through September 30, 2010. Amnesty is not available to taxpayers who have entered into a compromise or settlement agreement with the Department.