TRENTON, NJ – New Jersey will extend the filing deadline for personal and business taxes until July 15th and has extended the completion of the state's fiscal year until Sept. 30th.
The federal government had announced March 20th that it would extend the deadline for filing federal income taxes from April 15th to July 15th.
The extension will also allow lawmakers and state officials to delay working on the fiscal year 2020-2021 budget, which would have gone into effect July 1st. Instead, the state has also extended the last day of fiscal year 2019-2020 until Sept. 30th.
With household budgets in crisis mode and a daily focus on the coronavirus crisis in the state capital, Gov. Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin made a joint announcement Tuesday morning on the extension, just two weeks before state and federal taxes would have been due.
“The ongoing COVID-19 pandemic has caused hardships, financial strain, and disruptions for many New Jerseyans and New Jersey businesses. As part of our response, we have reached agreement that the state income tax filing deadline and the corporation business tax filing deadline will be extended from April 15th to July 15th," the statement reads.
“Additionally, as part of the whole-of-government effort that is going into fighting COVID-19, we have agreed that the state fiscal year should be extended to Sept.30th . This will allow the Administration and the Legislature to focus fully on leading New Jersey out of this crisis, and to allow for a robust, comprehensive, and well-informed budget process later in the year.
“We are committed to working together to enact the necessary legislation and supplemental appropriations to accomplish these goals.”