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NYS Extends Quarterly Sales Tax Payment Deadline…Again

    • Tax Commissioner extends deadline to abate penalties and interest to June 22nd, 2020
    • Second extension of this payment deadline, which is normally March 20th
    • Initially extended to May 20th by NYS due to Coronavirus pandemic

The New York State (NYS) Department of Taxation and Finance extended the payment deadline for quarterly and annual sales and use tax once again, setting a new due date of June 22nd, 2020. Previously, NYS had extended the payment deadline from its normal due date of March 20th to May 20th in response to the economic hardships caused by the Coronavirus pandemic. As previously reported, many in the business community, especially small businesses, struggled to find the operating cash from which to make their sales and use tax payments as the May 22nd deadline approached, as many remained shut down due to social distancing orders. The one-month extension has been viewed as an optimistic prediction that a healthy portion of businesses will be operational by the time the June 22nd deadline comes around.

As unemployment numbers continue to climb and businesses remain hopeful that additional relief is on the way from Congress, it remains unclear if this deadline will once again be extended as well as if the quarterly sales tax payment deadline for Q2 will need to be adjusted as well. Be sure to check out the DSJ COVID-19 Information Center to stay up to date as amendments continue to be made to this tax filing and more.

Sincerely,

Anthony Perrone
Financial Services Partner

Contact:
516-541-6549 | Email

 
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