Coronavirus Update: New Jersey and New York Filing Deadlines

Coronavirus Update: New Jersey and New York Filing Deadlines
Riker Danzig Tax Law Client ALERT March 31, 2020

In response to the COVID-19 outbreak, New York and New Jersey have each taken steps to extend upcoming tax deadlines.  

1.       Extension of New York tax deadline from April 15 to July 15

Under authority granted by Executive Order No. 202.12 from Governor Cuomo, the New York State Tax Commissioner in Notice N-20-2 has extended the April 15, 2020 due date to July 15, 2020 for New York State personal income tax and corporate tax returns.  This extension also permits taxpayers to defer all tax payments originally due on April 15, 2020 (including installment payments and estimated taxes for the 2020 tax year) to July 15, 2020 without penalties and interest.

2.       Extension of New Jersey tax deadlines

The New Jersey Legislature has similarly passed a bill that would extend the April 15th deadline by which to file New Jersey Gross Income Tax (GIT) and Corporation Business Tax (CBT) returns to June 30.  The bill was passed by the Assembly on March 16, 2020 and by the Senate on March 19, 2020, and is currently on Governor Murphy’s desk awaiting signature.  Governor Murphy has indicated that the State will likely extend the deadline, but that his administration has not yet decided on the details of the extension or whether he will sign the current bill.

The New Jersey Legislature is also considering a bill, A3902, that would authorize the Director of the Department of Community Affairs’ Division of Local Government Services to permit municipalities to institute extended grace periods for quarterly property tax payments and other municipal charges.  The Director would also be authorized to grant municipalities a grace period in which to transmit their quarterly payments of property tax revenues to school districts.  The bill also empowers the Director to extend certain other deadlines, such as the deadlines for the issuance of tax bills and municipal tax sales, and deadlines under the Municipal Land Use Law.  The bill passed the Assembly on March 25, 2020 by a vote of 79-0 and will next move to the Senate.

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

Please visit Riker Danzig’s COVID-19 Resource Center to stay up to date on all related legal issues.