Taking action to give New Jersey taxpayers and businesses a reprieve on their tax deadlines in light of the Covid-19 Pandemic, the Senate approved Thursday, 34-0, a bill part of a bipartisan-sponsored legislative package aimed at addressing the current health crisis.
Among the measures approved is a bill (A-3841) that would 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.
The sponsors of the bill, Assembly members Eliana Pintor Marin (D-Essex) and Nicholas Chiaravalloti (D-Hudson) issued the following statement:
“We must take proactive steps to protect New Jersey’s economy. We are all uncertain of what to expect over the next few months and New Jersey residents need our support right now. Allowing more time to file can help many of those who need to go into a tax service in person, as well as giving flexibility to owners who may face some disruption in their businesses. Together, we can navigate our way through the Covid-19 pandemic. We will do it by working collaboratively, showing compassion, and preparing as best we can for unexpected challenges our residents may find themselves facing during this time.”
Assemblyman Jon Bramnick issued the following statement:
“Businesses need to focus on adjusting to the public health emergency and changes in the market right now,” said Bramnick (R-Union). “With tax season upon us, it makes sense we extend the filing deadline by one month. Our state’s top priority is safeguarding public health, but we must also protect the financial health of our economy.”