As part of this year’s Business Plan, the Coral Springs City Commission approved an amnesty period for first-time business tax receipt applicants who have never obtained a business tax receipt and were in business in Coral Springs prior to October 1, 2009. This creates a window of opportunity for first-time applicants to avoid penalties and back taxes, whether they are business entities or independent contractors (issued a 1099 statement for federal tax purposes).
This amnesty period is established for all classifications that are listed in Section 1026 of the City of Coral Springs Land Development Code (Local Business Tax Receipt and Regulations). This section is available at www.coralsprings.org, under Code Enforcement. Employees receiving a W-2 statement from their Coral Springs employer are NOT required to obtain a business tax receipt.
The amnesty period will be in effect from July 1, 2010 through September 30, 2010. Any and all arrearages (assessments of back taxes plus penalties) will be waived for qualified applicants. The applicant must, however, pay the applicable tax for the current tax year (October 1, 2009 - September 30, 2010) and for next year’s renewal (October 1, 2010 - September 30, 2011) to receive the waiver.
This is a savings of hundreds of dollars in back taxes for each year and a savings of penalties of 25% each year, plus a $250 fine.
For more information, call 954-344-5963.