Continue collection of overdue taxes
Spending additional funds to increase the efficiency of collecting delinquent state taxes has produced a record payment of late revenue – $190 million in back taxes collected: $67.8 million in corporate income taxes, $51.4 million in general income taxes and $61.5 million in sales taxes.
The total for 2013 exceeds by $80 million the amount collected in Fiscal Year 2012.
The 2014 fiscal year started July 1, and legislators are discussing how much more needs to be spent to seek out and collect the overdue taxes from businesses and individuals.
The Legislature provided $3.5 million two years ago to hire extra staff, and the investment paid off.
During the 2012 session, the Legislature appropriated the extra money to hire 44 auditors and revenue officers. For the additional funds, Tax Commissioner Johnny Morgan said the agency could generate at least $10 million more in delinquent taxes.
Department of Revenue spokeswoman Kathy Waterbury said, “We collected $10 million over the prior year: eight times – $80,861,260 more in delinquent tax collections than for FY12. The results were verified by PEER.”
Daily Journal Editorial
9/4/13
Magnolia Tribune
