Bill

Bill > A3841


NJ A3841

NJ A3841
Automatically extends time to file gross income tax or corporation business tax return if federal government extends filing or payment due date for federal returns.


summary

Introduced
03/16/2020
In Committee
03/16/2020
Crossed Over
03/16/2020
Passed
03/19/2020
Dead
Vetoed
05/04/2020

Introduced Session

2020-2021 Regular Session

Bill Summary

This bill automatically extending the time to file a gross income tax or corporation business tax return if the federal government extends the filing or payment due date for federal returns. Most annual gross income tax and corporation business tax returns are due on or before April 15 following the close of a calendar year or accounting period. Certain taxpayers are also required to make quarterly estimated payments around that timeframe. The bill would automatically grant an extension for those taxpayers if the federal government grants an extension and would not impose penalties or interest if the taxpayer files a return by the end of the extension. The extended due date would be no later than June 30, 2020. The sponsor's intent is to provide relief to taxpayers that may be impacted by the COVID-19 pandemic and may not have the ability to file their tax returns on time or settle tax payments.

AI Summary

This bill automatically extends the time to file a gross income tax or corporation business tax return if the federal government extends the filing or payment due date for federal returns. The extended due date would be no later than June 30, 2020, and taxpayers would not be subject to penalties or interest if they file by the end of the extension. The intent is to provide relief to taxpayers impacted by the COVID-19 pandemic who may not have the ability to file their tax returns on time or settle tax payments.

Committee Categories

Military Affairs and Security

Sponsors (26)

Last Action

Absolute Veto, Received in the Assembly (on 05/04/2020)

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