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New Jersey Amnesty Program Ends Jan. 15

Posted 3:00 PM by

New Jersey is currently running an amnesty program that allows taxpayers an opportunity to become compliant with certain state tax liabilities and unfiled tax returns. The state has identified companies and individuals with outstanding liabilities on account and contacted them regarding this program; however, companies and individuals that were not contacted by the state are also eligible to participate. 

Program Details

  • Amnesty Period: Nov. 15, 2018, through Jan. 15, 2019
  • Eligible Taxes: All taxes administered by the New Jersey Division of Taxation, such as sales and use tax, corporation business tax, personal income tax (including composite tax), motor fuels tax, public utility taxes, etc.
  • Ineligible Taxes: Property taxes, payroll taxes owed to the New Jersey Department of Labor, fees assessed by the New Jersey Division of Revenue, motor carrier road use taxes, etc.
  • Periods Covered by Amnesty: Tax liabilities for tax returns due on or after Feb. 1, 2009, and prior to Sept. 1, 2017
  • Benefits: All penalties and half the interest waived
  • Failure to Participate in Amnesty: Penalties and collection fees will be reinstated; full interest will be due on any remaining balances; and a five percent amnesty penalty will be imposed. The amnesty penalty cannot be waived or abated.

New Jersey also continues to facilitate a voluntary disclosure program, which allows for taxpayers to come into compliance with their New Jersey tax liability and filing requirements. The voluntary disclosure program will not permit the abatement of interest; however, it may be requested anonymously, and the lookback period is generally limited to four years. 

If you are interested in options for complying with your New Jersey state tax requirements, or you have received a letter from the state of New Jersey regarding the amnesty program, contact your KSM advisor or KSM’s State and Local Tax Group to discuss next steps.

About the Author
Stephen Royster is a partner in Katz, Sapper & Miller’s State and Local Tax Group. Stephen helps clients navigate the multistate tax landscape by advising them on tax law changes in every state, ensuring they are efficiently structured, and ultimately protecting their bottom line. Connect with him on LinkedIn.

 

About the Author
Amy Zimmer is a director in Katz, Sapper & Miller's State and Local Tax Group. Amy advocates for clients in the multistate tax arena, protecting their assets by resolving complex compliance issues and negotiating settlements with taxing jurisdictions. Connect with her on LinkedIn.

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