Numerous states have provided tax relief in response to the COVID-19 outbreak, often in the form of tax filing and payment deadline extensions. At this time, 40 states and Washington, D.C., have provided a corporate income tax filing and/or payment deadline extension. Some of these states have conformed to the July 15 federal corporate income tax extension date, while others have extended to an earlier or later date. Some states have also extended income tax deadlines for partnerships and other business entities and many states have extended individual income tax deadlines.
Additionally, 21 states and Washington, D.C. have extended certain sales and use tax deadlines. The particular sales and use tax relief varies significantly by state, and is often limited to qualifying businesses (based on the entity’s size, industry, in-state operations, or other criteria). Some states have also extended certain deadlines for other indirect taxes, including excise taxes.
For more information: Global Compliance NewsGlobal compliance news
by theodore Bots
May 12, 2020