New Jersey Provides 30-Day Penalty Relief for Corporations
September 9, 2019
The New Jersey Division of Taxation will automatically waive the late filing penalty for corporation business taxpayers with a properly extended federal return due date of Oct. 15, 2019, if the return is filed by Nov. 15, 2019, for extended calendar-year corporations (or filed within an additional month of the extended due date for 2018 returns for fiscal year corporations).
The Division will consider elections made timely, if the elections are made on a 2018 New Jersey Corporation Business Tax Return filed by Nov. 15 (or within an additional month for an extended 2018 return for a fiscal year corporation). Interest and penalties for late payment of the tax may still apply. Failure to file by the Nov. 15, 2019, date may result in the imposition of a late filing penalty based on the Oct. 15, 2019, due date.