Apr. 22, 2021
- The General Assembly unanimously passed legislation authored by Rep. Keith Greiner (R-Lancaster) to change the due date of state corporate tax returns from 30 days after the due date of the federal return, to the 15th day of the month following the due date of the federal return. The House passed the legislation after approving Senate amendments.
Greiner’s legislation also provides permanent authorizations for the Department of Community and Economic Development, through coordination with the governing bodies and local agencies of political subdivisions, to extend the filing and payment deadlines for annual local income taxes to match the deadline for federal and state tax returns indefinitely.
May 17 is currently the deadline for federal and state tax returns. As such, for this year, the deadline for annual local income taxes would be extended to May 17.
It also requires the waiver of any interest, penalty, or additional tax that may have otherwise been assessed or accrued for the failure to file or remit a payment for state and local tax liabilities through the extended deadline. Should the governor sign the legislation into law, individual taxpayers’ returns may be filed in conjunction with federal and state returns.
The Pennsylvania Institute of Certified Public Accountants voiced their support for Greiner’s legislation, saying it would improve certainty and compliance with tax law.
“I am thrilled that the Senate and the House were able to come together and move this legislation forward quickly,” said Greiner. “I encourage the governor to sign it into law immediately for the benefit of tax compliance.”