Comptroller Announces June 1st Extension of Business Tax Filing Deadlines
On March 11, 2020, in an effort to assist businesses affected by COVID-19’s economic impact, Maryland Comptroller Peter Franchot announced the June 1stextension of business-related tax filing deadlines. Specifically, the announcement provided that:[t]he June 1stextension applies to certain business returns with due dates during the months of March, April and May 2020 for businesses filing sales and use tax, withholding tax, and admissions & amusement tax, as well as alcohol, tobacco and motor fuel excise taxes, tire recycling fee and bay restoration fee returns.
Significantly, as long as business taxpayers file and pay by the new deadline, they will receive a waiver of both interest and penalties.
The announcement also confirmed that if the IRS extends its April 15th filing deadline, Maryland will conform.
Comptroller Franchot stated that:
This extension will provide much-needed relief to our business owners as they adjust to changes in consumer behavior, tourism trends and employee workforce output. Maryland will also extend our corporate and individual income tax return filing deadlines if the IRS announces an extension.
Note that the announcement provides the email address, email@example.com, which is dedicated to assist businesses with any questions regarding this extension.
If you are a business owner with questions or concerns about the impact of COVID-19 on this year’s filing season, contact Frost Law today at 410-497-5947.