NJ Tax E-News 7/20/20

COVID-19 RELATED TAX INFORMATION

All COVID-19 related tax information (this page is updated frequently) – https://www.state.nj.us/treasury/taxation/covid19.shtml

COVID-19 EXTENSION OF TIME TO FILE AND PAY

Individual Gross Income Tax, Partnership, and Corporation Business Tax calendar year filers had until July 15 to file and pay these taxes, including estimated tax payments due on April 15. All other returns and payments are due on their original due date.

TAXATION REGIONAL INFORMATION CENTERS

The Trenton Regional Information Center is open to the public by appointment only. Our other centers around the State will re-open the week of August 3.

Visitors must wear a face covering and follow social distancing guidelines.

SALES TAX

Sales Tax Rate Change For Sales of Medical Marijuana
P.L. 2019, c. 153 phases out the Sales Tax imposed on sales of medical marijuana over the next two years. Beginning July 1, 2020, the current 6.625% Sales Tax rate imposed on sales of medical marijuana will be reduced.
https://www.state.nj.us/treasury/taxation/marijuanasalestaxchangenotice.shtml

Streamlined Certificate of Compliance and Taxability Matrix Update June 22, 2020
http://sst.streamlinedsalestax.org/otm/

HOMESTEAD BENEFIT

Because the COVID-19 pandemic is anticipated to negatively impact the State economy, the New Jersey Department of the Treasury has frozen a portion of spending in order to ensure the State can meet its emergency and statutorily required obligations. Regrettably, this includes freezing funding to support the 2017 Homestead Benefit program.

2017 Homestead Benefit Program Information
https://www.state.nj.us/treasury/taxation/homestead/geninf.shtml

SENIOR FREEZE (PROPERTY TAX REIMBURSEMNT)

The unprecedented impact COVID-19 has had on the economy has forced the state to freeze funding for many worthy programs, including Senior Freeze, and prompted the extension of the budget deadline from June 30 to September 30. Therefore, funding for Senior Freeze reimbursements that typically occur during mid-summer is unavailable at this time.

2019 Senior Freeze (Property Tax Reimbursement) Program Information
https://www.state.nj.us/treasury/taxation/ptr/index.shtml

LOCAL PROPERTY TAX

Statistical Data: Updated listings under Abstract of Ratables, Average Residential Assessment, Common Level Ranges (Chapter 123), General Tax Rates by County and Municipality, and Grantor’s Listing

https://www.state.nj.us/treasury/taxation/lpt/statdata.shtml

PUBLIC AUCTIONS

Listings for current Division of Taxation Public Auctions

https://www.state.nj.us/treasury/taxation/auctions.shtml

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If you have a question about any of the taxes and programs administered by the Division of Taxation, click on https://www.state.nj.us/treas/taxation/contactus_tyttaxa.shtml to send an email.

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NJ Division of Taxation

50 Barrack Street

Trenton, New Jersey 08695

609-292-6400

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