New Jersey Bill S-2338 Has Passed

New Jersey Bill S-2338 has unanimously passed both legislative houses.  The Governor has announced his intention to sign the legislation into law on Tuesday, April 14, 2020.

The bill has extended the time to file and pay the following 2019 calendar year taxes originally due on April 15, 2020 to July 15, 2020:

• Individual Gross Income Tax
• Fiduciary Gross Income Tax
• Partnership Tax
• Corporation Business Tax

The extension also includes the 1st quarter 2020 estimated tax payments originally due April 15, 2020.

We will continue to follow these developments and will provide additional information as we receive clarification. These are very challenging times. Please know that LB Goodman is here to help you with your financial questions and concerns.

If you have any questions, do not hesitate to contact us.

Information as of April 13, 2020.