New Jersey- Sales tax filing hits snag, with business owners uncertain over COVID-19 APRIL 22, 2020

The state’s online tax filing portal was overwhelmed on Monday, amid a rush of business owners trying to file their sales tax returns before the end of the April 20 deadline – after many were left uncertain on whether the COVID-19 outbreak would translate to an extended deadline like with the state’s income and corporate taxes.

Earlier this month, Gov. Phil Murphy approved an extension of the deadline to file state income and corporate and business tax from April 15 to July 15, so as to match the Internal Revenue Service’s extension.

That would buy companies more time to fully gauge how the COVID-19 impact – such as mass business closures, record joblessness and an overall hesitation to go outside – will have on businesses and their revenue.

But lamakers have no plan to extend the sales tax filing deadlines – same with the property tax filing deadlines which are due on May 1. State law requires businesses to pay and file their sales tax for the month by the 20th day of the following month. And so April 20 was the deadline for shops to pay sales tax on any transactions made during March.

A bill introduced by Assemblyman Ron Dancer, R-12th District, on April 13 would have added another 45 days onto the April 20 deadline – but the measure has not moved forward since its referral to the Assembly Appropriations Committee that same day.

For more information: NJBIZ

bJ Biz
By: Daniel J Munoz
APril 22, 2020