Here’s the latest news from Concord.

Tax Filing Deadlines Extended for Some

The Department of Revenue Administration (DRA) has extended the tax filing deadlines for some business and personal taxpayers.  This is in recognition that with the IRS filing deadlines extended, some taxpayers will not be able to file their NH returns on time.

The relief applies to the Interest and Dividends Tax (I&D)  paid by individuals, and the Business Enterprise Tax (BET and Business Profits Tax (BPT paid by businesses.  From the press release:

Relief is available for certain BPT, BET and I&D taxpayers who are impacted by the COVID-19 pandemic and unable to pay the amount due on April 15, 2020. Those qualifying taxpayers will have until June 15, 2020 to remit payment without typical penalties and interest. This extended due date is in addition to the expansion of the qualifications for the automatic extension and the estimate payment safe harbor. 

Taxpayers who qualify for this specific relief are Business Tax taxpayers who owed $50,000 or less in taxes (total BPT and BET tax liability) for tax year 2018 and I&D taxpayers who owed $10,000 or less in taxes for tax year 2018. These thresholds account for 98 percent of all BPT, BET and I&D taxpayers. 

There are qualifiers to all of this, and it would be risky for me to try and paraphrase the Department’s language.  Please read the press release below for the full information.  For those who want a deeper dive, there is also a link to the Department’s Technical Information Release.

Press release:  https://www.governor.nh.gov/news-media/press-2020/documents/20200330-dra-covid19-tax-relief.pdf

DRA Technical Information Release:  https://www.governor.nh.gov/news-media/press-2020/documents/tir-2020-001.pdf

Keep well,

Rep. Lucy Weber