COVID-19: Maine Extends Property Tax Application Deadlines; New Hampshire Offers Some Tax Relief
Due to the ongoing COVID-19 pandemic, the state of Maine has extended its property tax exemption application deadlines, and New Hampshire is now offering some business tax and interest and dividends tax relief.
On March 31, 2020, Maine Governor Janet Mills signed an executive order extending the April 1, 2020 application deadline for certain property taxes. The order applies to the business equipment tax exemption (BETE), the homestead exemptions, and the exemptions for solar and wind equipment, for property owned by tax-exempt organizations (including charitable, educational, and religious organizations), for property owned by veterans. In a companion executive order, Governor Mills extended the April 1 current use application date for property owners participating in the Open Space, Farmland, Tree Growth, and Working Waterfront programs to July 1, 2020.
On March 30, 2020, the New Hampshire Department of Revenue Administration (DRA) published TIR 2020-01, which offers some business tax and interest & dividends tax relief.
June 15, 2020 Extension for Small Taxpayers. DRA is extending the filing and payment deadline for businesses whose total 2018 business profits tax and business enterprise tax liability was $50,000 or less, and for interest and dividends taxpayers whose 2018 I&D tax liability was $10,000 or less. For these taxpayers, the BET, BPT, and I&D tax payment and filing deadline is extended from April 15, 2020 to June 15, 2020. The extended due date applied to estimated tax payments due April 15. It is notable that New Hampshire is not conforming to the federal July 15, 2020 extended due date.
November 11, 2020 Extension with Extension Payment. All taxpayers have the option to extend the payment and filing BET, BPT, and I&D tax deadline to November 15, 2020 with an extension payment. To receive the extension, taxpayers must pay at least the amount they owed in 2018 by April 15, 2020. If the extension payment is made, penalties or interest will be waived.
Estimated Tax Payment Safe Harbor. A taxpayer required to make estimated payments in 2020 will not be charged penalties or interest if each estimated payment equals at least 25% of the taxpayer’s 2018 tax liability.