COVID-19 State and Local Tax – Sales and Use Tax Guidance State and Local Tax

or to bookmark this page

Click here to bookmark this page

Click here to remove bookmark

COVID-19 State and Local Tax – Sales and Use Tax Guidance

COVID-19 State and Local Tax – Sales and Use Tax and Unclaimed Property Guidance

In response to the coronavirus (COVID-19) pandemic, U.S. state and local jurisdictions are responding with solutions to assist taxpayers during this time of uncertainty. Duff & Phelps’ Sales and Use Tax professionals provide a summary of measures adopted by the states, including filing and payment extensions.

Duff & Phelps will continue to monitor the sales and use tax landscape and provide frequent updates as they become available.

How we can help:

  • Assist in securing deferrals of filings and tax payments
  • Expedite pending refunds from prior period refund claims
  • Identify potential opportunities to secure refunds of tax overpayments due to the company
  • Expedite audit settlements on favorable terms
Sales and Use Tax

States New Filing Deadline New Payment Deadline Industry Specific Comments Source (Weblink)
Alabama No Extension on report filing 6/1/2020 - Small Businesses
7/15/2020 - FEIT
Small Businesses and Banks Small businesses whose monthly retail sales during the previous calendar year averaged $62,500 or less may file their monthly sales tax returns for the February, March, and April 2020 reporting periods without paying the state sales tax reported as due. Late payment penalties will be waived for these taxpayers through June 1, 2020. This does not apply to local sales tax liabilities.

For an Affected Taxpayer, the due date for filing Financial Insitution Excise Tax (FEIT) returns and making FIET payments due April 15, 2020, is automatically postponed to July 15, 2020. There is no limitation on the amount of the payment that may be postponed.

No extension is provided in this Order for the payment or deposit of any other type of state tax, or for the filing of any other state information return.
Link 1
Link 2
Alaska 7/15/2020 7/15/2020 Applies to all Taxpayers, except Oil and Gas Production taxes Penalties and interest will not be assessed if returns and payments are received on or before July 15, 2020. Link
California 7/31/2020 for businesses filing less than $1 million in tax 7/31/2020 for businesses filing less than $1 million in tax Small Businesses As of April 2, 2020, taxpayers with less than $5 million in annual taxable sales can take advantage of a 12-month, interest free payment plan up to $50,000 in sales & use tax liability. This would be paid back in 12 equal monthly installments.

Providing a three-month extension for a tax return or payment to any businesses filing a return for less than $1 million in tax. For the approximate 99.5% of business taxpayers below the $1 million threshold for their current California sales and use tax obligation, returns for the 1st quarter 2020 will now be due on July 31, 2020.
Link 1
Link 2
Link 3

Download the Full Report

 

×
Download the Full Report

This field is required
This field is required
This field is required
This field is required
The field is required
This field is required A valid email address is required
Please select an Option
This field is required
We will use this information to respond to your inquiry and process your data in accordance with our privacy policy.

© 2020 Duff & Phelps, LLC. The contents of all material available on this site are copyrighted by Duff & Phelps unless otherwise indicated. All rights are reserved and content may not be reproduced, downloaded, disseminated, or transferred, in any form or by any means, except with the prior written agreement of Duff & Phelps. While Duff & Phelps makes every effort to present accurate and reliable information on this site, we do not guarantee the accuracy, completeness, or timeliness of such information. This information is subject to change and not a substitute for detailed and current advice from qualified local experts. Applicability of the information to specific situations should be determined through consultation with your tax adviser in advance of any business or filing decision. As such, Duff & Phelps is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use of, reference to, or reliance on such information.

Other Areas We Can Help

Valuation Advisory

Valuation Advisory

Valuation and consulting for financial reporting, federal, state and local tax, investment and risk management purposes.

Valuation Advisory
Tax Services

Tax Services

Innovative tax advisory and compliance services encompassing property tax, sales and use tax, and site selection and incentives.

Tax Services

Insights

COVID-19 Resource Center

View Our Novel Coronavirus (COVID-19) Resource Center for Latest Guidance

COVID-19 Resource Center
Transfer Pricing

Transfer Pricing Times – Third Quarter 2020

Transfer Pricing
Transfer Pricing

Asia's Response to the COVID-19 Impact – Transfer Pricing Documentation, Benchmarking and APAs

Transfer Pricing