State & Local Tax, Tax

NJ Waiving Late Filing Penalty for Certain Corps

New Jersey is waiving its late filing penalty for certain corporations. The NJ Division of Taxation will automatically waive the penalty for corporate taxpayers with a “properly extended” federal return due date of Oct. 15, 2019. The return must be filed on a 2018 “NJ Corporation Business Tax Return” by Nov. 15, 2019, for extended calendar year corporations. Or, for fiscal year corporations, it must be filed within an additional month of the extended due date for 2018 returns. Interest and penalties for late payment of the tax may still apply. Contact the Cg Team for more information. © 2019