ASSEMBLY, No. 5528

STATE OF NEW JERSEY

219th LEGISLATURE

 

INTRODUCED MARCH 25, 2021

 


 

Sponsored by:

Assemblyman  RONALD S. DANCER

District 12 (Burlington, Middlesex, Monmouth and Ocean)

 

 

 

 

SYNOPSIS

     Extends CBT, GIT, and Pass-Through Business Alternative Income Tax filing and payment due dates to May 15, 2021.

 

CURRENT VERSION OF TEXT

     As introduced.

  


An Act concerning tax filing and tax payment due dates.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.  a.  A taxpayer required to make and file an annual or quarterly return or report pursuant to the “New Jersey Gross Income Tax Act,” N.J.S.54A:1-1 et seq., or the “Corporation Business Tax Act (1945),” P.L.1945, c.162 (C.54:10A-1 et seq.), on an original due date of April 15, 2021, or the “Pass-Through Business Alternative Income Tax Act,” P.L.2019, c.320 (C.54A:12-1 et seq.) on an original due date of March 15, 2021, shall be granted by the Director of the Division of Taxation in the Department of the Treasury an automatic extension of time to file those returns or reports and to pay the tax due until May 15, 2021.

     b.    The provisions involving payment of interest upon any overpayment of tax pursuant to N.J.S.54A:9-7 and section 7 of P.L.1992, c.175 (C.54:49-15.1), are hereby extended for six months after the return is filed.

     c.     A taxpayer granted an automatic extension pursuant to subsection a. of this section shall not be subject to penalties or interest if the return or report is filed and the tax due is paid on or before May 15, 2021, or by such other date that may be permitted by the director in accordance with regulations in effect on the effective date of P.L.    , c.   (pending before the Legislature as this bill).

     d.    Notwithstanding any provision of the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.) to the contrary, the director may adopt immediately upon filing with the Office of Administrative Law such rules and regulations as the director determines to be necessary and appropriate to effectuate the purposes of this section.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill extends the tax deadline from April 15, 2021 to May 15, 2021 for taxpayers that are required to file a return or report, or make a payment for the gross income tax or the corporation business tax by April 15, 2021. The bill also extends the tax deadline from March 15, 2021 to May 15, 2021 for taxpayers electing to pay the pass-through business alternative income tax (PTBAIT).