Bill Text: NJ A3584 | 2012-2013 | Regular Session | Introduced
Bill Title: Temporarily suspends penalties and interest for late payment of State taxes by businesses disrupted by Hurricane Sandy.
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Introduced - Dead) 2012-12-10 - Introduced, Referred to Assembly Appropriations Committee [A3584 Detail]
Download: New_Jersey-2012-A3584-Introduced.html
Sponsored by:
Assemblyman JOHN F. AMODEO
District 2 (Atlantic)
Assemblyman CHRIS A. BROWN
District 2 (Atlantic)
SYNOPSIS
Temporarily suspends penalties and interest for late payment of State taxes by businesses disrupted by Hurricane Sandy.
CURRENT VERSION OF TEXT
As introduced.
An Act temporarily suspending penalties and interest for late payment of State taxes by businesses disrupted by Hurricane Sandy, supplementing chapter 48 of Title 54 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Notwithstanding the provisions of R.S.54:49-3, R.S.54:49-4, 54:49-11, and subsections (c) and (f) of N.J.S.54A:9-6 to the contrary, a business that is a taxpayer as defined pursuant to R.S.54:48-2, that has had business operations disrupted by effects of Hurricane Sandy, upon sufficient written notice provided by the taxpayer explaining the facts and circumstances thereof to the Director of the Division of Taxation in the Department of the Treasury, shall not be liable to pay any penalty and interest for failure to pay any State tax on the day when the State tax shall be otherwise required by law to be paid during a period of up to 120 days that immediately follow October 27, 2012.
2. This act shall take effect immediately and be retroactive to October 28, 2012.
STATEMENT
This bill allows business taxpayers that have had operations disrupted by effects of Hurricane Sandy to avoid late State tax payment penalties and interest for a period of up to 120 days following October 27, 2012, the date of the declaration of a state of emergency in New Jersey in Executive Order No. 104. This period of up to 120 days during which late tax payments will not incur late payment penalties and interest, based upon actual disruption of business operations, commences October 28, 2012 and may terminate February 24, 2013. For business taxpayers to be relieved of late payment penalties and interest during this period they must provide sufficient written notice to the Director of the Division of Taxation explaining the facts and circumstances under which the business operations were disrupted by effects of Hurricane Sandy.
