ASSEMBLY HOMELAND SECURITY AND STATE PREPAREDNESS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 3841

STATE OF NEW JERSEY

DATED:  MARCH 16, 2020

      The Assembly Homeland Security and State Preparedness Committee reports favorably Assembly Bill No. 3841.

      As reported by the committee, 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.

      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.