Numerous states have provided tax relief in response to the COVID-19 outbreak, often in the form of tax filing and payment deadline extensions. At this time, 41 states and Washington, D.C. have provided a corporate income tax filing and/or payment deadline extension. Most recently, Florida extended its May 1, 2020 corporate income tax deadlines to August 3, 2020 for filing and June 1, 2020 for payment. Since the payment deadline is sooner than the filing deadline, the Florida Department of Revenue advised corporate taxpayers to submit payments based on their best estimate of the tax that would be due with the return. Some states have also extended income tax deadlines for partnerships and other business entities and many states have extended individual income tax deadlines.
Additionally, 21 states and Washington, D.C. have extended certain sales and use tax deadlines, although the extent of the relief varies significantly by state and is often limited to qualifying businesses (based on the entity’s size, industry, in-state operations, or other criteria). In recent weeks, several of these states have expanded the scope of their sales and use tax relief. Some states have also extended deadlines for various other taxes, such as excise taxes and property taxes.
Baker McKenzie is tracking states’ corporate income tax and sales and use tax deadline extensions. Our tracker is available here and is updated as of May 3, 2020.