Corporate Close-Up: States Begin Adopting New Partnership, Corporate Return Deadlines for Tax Years After 2015

The federal income tax return filing due dates for partnerships and corporations were changed for taxable years beginning after Dec. 31, 2015 under the Surface Transportation and Veterans Health Care Choice Improvement Act (Pub. L. No. 114-41), which was enacted in July.

Under the federal act, the deadline for partnerships is accelerated from April 15 to March 15 (or the 15th day of the third month following the close of the taxpayer’s fiscal year). Conversely, the deadline for corporations is extended to April 15 (or the 15th day of the fourth month following the close of the taxpayer’s fiscal year). 

Some states have introduced or enacted legislation that conforms, or closely aligns, with select federal deadlines, Bloomberg BNA’s Jennifer McLoughlin recently reported in the Weekly State Tax Report.  Among these states is New York, where Gov. Andrew M. Cuomo (D) in his 2016-17 Executive Budget proposed federal conformity for both New York State and City.

States that have already enacted conforming legislation include New Mexico (H.B. 249) and West Virginia (H.B. 4148).

Continue the discussion on Bloomberg BNA’s State Tax Group on LinkedIn: Do states need to enact legislation to conform to the new filing deadlines or can they do so through an administrative regulation or pronouncement?

Sign up for a free trial of the Bloomberg BNA Premier State Tax Library, a comprehensive research service that delivers deep, unique analysis, and time-saving practice tools to help practitioners make well-informed decisions.