April 29, 2020
Manager Chris Cicalese, CPA, MSTFP discussed sales tax deadlines for businesses in the NJBIZ article, “Sales tax filing hits snag, with business owners uncertain over COVID-19.” The article discusses inconveniences with the state’s online tax filing portal for business owners trying to file their sales tax returns by the April 20th deadline.
State law requires businesses to pay and file their sales tax for the month by the 20th day of the following month. And so April 20 was the deadline for shops to pay sales tax on any transactions made during March.
In addition, the State Treasury has four quarterly deadlines: Jan. 20, April 20, July 20 and Oct. 20 for any filings on sales tax.
“Anyone that would file and pay today would be considered late. At the same time, everyone had 20 days to file” for March, Chris Cicalese, manager at the Cherry Hill accounting firm Alloy Silverstein, told NJBIZ on Tuesday.
“Everyone thought that the payments were going to get delayed and at the same time they might not have had any cash to pay anything. So they finally realized yesterday that the sales tax deadline was not extended, so they filed so they wouldn’t get penalized, and they ended up getting stuck on the website,” he added.
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Sales tax filing hits snag, with business owners uncertain over COVID-19 (updated)
