Emergency regulations will deliver more small biz tax relief
Photo | SHNS
Gov. Charlie Baker
Beacon Hill leaders will further delay tax deadlines for small businesses around the state in another step aimed at lessening pressure on those hit hardest by the economic downturn that the pandemic prompted.
Sales, meals and room occupancy taxes for qualifying businesses for March through August will not be due to the state until September, and those that wait will not face any penalties or interest, Gov. Charlie Baker and legislative leaders announced Thursday.
Under the administrative tax relief measures, any businesses that paid less than $150,000 in regular sales plus meal taxes or less than $150,000 in room occupancy taxes in the year ending Feb. 29 will qualify for relief, according to a press release. Others will also have late penalties waived.
The administration had originally postponed collection of those taxes until June 20.
The House approved legislation this month that, among other relief steps, would waive penalties and interest on meals tax payments through the end of the year. The Senate has not yet indicated plans for the bill (H 4767).
In a Thursday joint press release alongside Baker and Senate President Karen Spilka, House Speaker Robert DeLeo pointed to that legislation as a complementary step.
The Department of Revenue will issue emergency regulations and a technical information release to implement the administrative relief measures.
WBJ Web Partners
Most Recent
Most Recent
0 Comments