April 01, 2020
New Jersey residents will have an additional three months to file their income taxes in the wake of the state's coronavirus outbreak.
State officials postponed the April 15 filing deadline to July 15, state officials announced Wednesday. The extension also applies to corporation business taxes.
The end of the state's fiscal year has been pushed from June 30 to September 30th, allowing state officials to place the annual budgeting process on hold.
Gov. Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin issued a joint statement Wednesday announcing the extensions.
“The ongoing COVID-19 pandemic has caused hardships, financial strain, and disruptions for many New Jerseyans and New Jersey businesses,” the statement said. “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.”
BREAKING: The New Jersey state tax filing deadline WILL BE EXTENDED from April 15th to July 15th.— Governor Phil Murphy (@GovMurphy) April 1, 2020
Additionally, the state fiscal year will be extended to September 30th to allow us to focus on leading our state out of this crisis.
Thank you, @SpeakerCoughlin and @NJSenatePres. pic.twitter.com/kQFgsBKDHA
New Jersey is among the states hit hardest by the COVID-19 pandemic. The state had 22,255 confirmed coronavirus cases, including 355 deaths, through Wednesday afternoon. The vast majority are in North Jersey.
After Murphy ordered all non-essential businesses to close, many workers either lost their jobs or saw their hours cut. More than 155,000 residents filed for unemployment insurance during the week ending March 21, according to the Labor Department. That was 16 times more than the previous week, Murphy said.
State officials have rolled several initiatives to help individuals and businesses stay afloat.
The New Jersey Economic Development Authority has approved $75 million in financial support aimed at helping small and mid-size businesses affected by the crisis. That funding could grow to more than $100 million if additional resources from the private sector, or federal and state governments, become available.
Among the programs approved: A grant program for small businesses, a zero-interest loan program for midsize companies, additional support for private-sector leaders, increased funding for entrepreneurs, and resources for providing more technical support and marketplace info.
Murphy also implemented a 90-day grace period for mortgage payments and a 60-day eviction program for state residents.
Additionally, residents who are eligible for unemployment insurance will receive an additional $600 through July. All municipal and private-sector water companies have voluntarily halted all service shut-offs until the pandemic is over.
Murphy has asked utility companies to place a hold on service shutoffs so that residents will not lose their utilities if they are unable to pay their bills. Most companies have agreed to the shutoffs, Murphy said Saturday.
New Jersey is providing additional financial relief through the state's earned sick leave law — which covers public health emergencies. Residents are eligible if the person's workplace or their child's school or daycare closed due to the pandemic. They also are eligible if a quarantine is recommended by health officials or if they need to take care of themselves or a family member.
New Jersey also has created a special jobs bank during the coronavirus outbreak.