Legislation has passed both Houses in the state of New Jersey that will pave the way for extending the April 15, 2020 tax filing and tax payment deadlines for corporate, partnership, and individual income taxes until July 15, 2020. The extended due date will also cover first quarter 2020 estimated tax payments. Penalties and interest on 2019 income tax payments will be waived through the new July 15 deadline. For more information, you can access the Division of Taxation’s due date page here.

Although Governor Murphy has not yet signed the legislation into law, he has announced his intent to do so on Tuesday, April 14.

All other returns, including trust fund taxes such as employer withholding and sales tax, are still due on their original due dates. Second quarter estimated tax payments are also still due by their original due dates.

We will continue to keep you updated as this picture evolves, but for now, we encourage you to contact your Kreischer Miller tax professional or any member of our State and Local Tax team to discuss your individual circumstances. We also continue to update our COVID-19 Resource Center, which you can access here.

Information contained in this alert should not be construed as the rendering of specific accounting, tax, or other advice. Material may become outdated and anyone using this should research and update to ensure accuracy. In no event will the publisher be liable for any damages, direct, indirect, or consequential, claimed to result from use of the material contained in this alert. Readers are encouraged to consult with their advisors before making any decisions.