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New York State Tax Updates

Individual and Business Income Tax Returns

Governor Andrew Cuomo’s Budget Director, Robert Mujica, was quoted on March 20, 2020 during a news conference stating “The (state) deadline is the federal deadline. We are tied to the federal deadline so our deadline will move to the end of July.”

While we expect the New York State deadline to be moved to July 15, the New York State Department of Taxation and Finance is still reflecting the following statement:

At this time, the New York State Tax Department has not extended the deadline to file personal income tax or other tax returns.

Sales and Use Tax Returns

Governor Andrew Cuomo did pass Executive Order 202.8, which directs the NYS Department of Taxation and Finance to extend the filing period for sales and use taxes due March 20, 2020 (for the period ending February 29, 2020), for a period of 60 days.

Suspension of Statute of Limitations

In addition, Executive Order 202.8 temporarily suspended statutes of limitations, service, and other legal time periods through April 19, 2020.

In accordance with the directive of the Chief Judge of the State to limit court operations to essential matters during the pendency of the COVID-19 health crisis, any specific time limit for the commencement, filing, or service of any legal action, notice, motion, or other process or proceeding, as prescribed by the procedural laws of the state, including but not limited to the criminal procedure law, the family court act, the civil practice law and rules, the court of claims act, the surrogate’s court procedure act, and the uniform court acts, or by any other statute, local law, ordinance, order, rule, or regulation, or part thereof, is hereby tolled from the date of this executive order until April 19, 2020.

This executive order means that those up against a deadline to initiate an action now have an extension of time to do so through and including April 19, 2020, though that date may be altered by a future executive order.

Commercial or Residential Tenant Foreclosures

Executive Order 202.9 was also issued which states that evictions of commercial or residential tenants and foreclosures of commercial or residential properties remain delayed 90 days as previously ordered. Directs banks to delay mortgage payments for 90 days for any person or business who is experiencing hardship due to the COVID-19 Disaster.

We will post additional guidance as it becomes available.

The information and advice we are providing for this matter relates to COVID-19 legislative relief measures. Because legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that could modify some of the advice and information provided to you, after the conclusion of our engagement. We therefore make no warranties, expressed or implied, on the services provided hereunder.