New Jersey Update: Extension of Tax Filing Deadlines to July 15

Title:
New Jersey Update: Extension of Tax Filing Deadlines to July 15
Publication:
Riker Danzig Corporate/Tax Client UPDATE April 2, 2020
Attorneys:
Practice:

On April 1, 2020, New Jersey Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin released a joint statement indicating that New Jersey’s gross income tax and corporation business tax filing deadlines for 2019 will be extended from April 15, 2020, to July 15, 2020.  This extension, which corresponds to the U.S. Treasury Department’s extension of the federal income tax deadline, presumably applies to both the filing of returns and the payment of taxes – both 2019 annual taxes and first quarter 2020 estimated quarterly taxes – although additional details are forthcoming. The joint statement also announces the extension of New Jersey’s current fiscal year from June 30, 2020, to September 30, 2020.

It is unclear what legislative or administrative vehicle will be used to effectuate these extensions.  The New Jersey Legislature had previously passed a bill to extend the state tax filing deadlines, but such bill contained an extension only to June 30. 

Please contact Robert Daleo, Jason Navarino or Hannah Greendyk of our Tax Department if you have any questions about how these changes affect you.