When the Coral Springs City Commission approved the Coral Springs Business Plan for the period October 1, 2010 through September 30, 2011, the plan included a business initiative for 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, 2010. This creates a window of opportunity to avoid penalties and back taxes, for all first-time applicants, whether a business entity or an independent contractor (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 on the City’s website 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 starting May 1, 2011 through July 31, 2011. Any and all arrearages (assessment 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, 2010 - September 30, 2011) and pay for the next year renewal for the period (October 1, 2011 - September 30, 2012) to be eligible 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.