Tax amnesty program starts Mon.

TRENTON — New Jersey’s 2002 Tax Amnesty program will begin on Monday and end at midnight on June 10, said Division of Taxation Director Robert K. Thompson in a press release last week.

Under the program, filers will pay only the taxes they owe. All penalties and interest will be waived, according to a press release from the state. New Jersey state tax liabilities for tax returns due on or after Jan. 1, 1996 and before Jan. 1, 2002 will be eligible for amnesty during this 56-day period.

All taxes administered by the State Division of Taxation – including, but not limited to, sales and use taxes, personal income tax and corporate taxes – will be eligible for amnesty. Federal taxes, local property taxes and taxes paid to other states are not eligible for amnesty under this program, according to the release.

After the Tax Amnesty period ends, an additional 5 percent penalty, which shall not be subject to waiver or abatement, will be imposed on all outstanding amnesty-eligible tax amounts, and a collection service fee may be imposed.

The 5 percent penalty and the collection service fee will be in addition to all penalties, interest and other costs authorized by law.

The amnesty program was authorized under bipartisan legislation signed into law by Gov. James E. McGreevey last month.

According to the state, the program is estimated to yield $150 million in revenue as part of a legislative package to bring the 2002 budget into balance.

Thompson also announced the appointment of Stephen M. Sylvester, currently the division’s assistant director for property administration, as amnesty administrator. Sylvester served in the same capacity during the 1996 amnesty program.

Further details about the program will be available this week, according to the state.