New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 7 - CORPORATION BUSINESS TAX ACT
Subchapter 3 - COMPUTATION OF TAX
Section 18:7-3.26 - Additional estimated payments resulting from P.L. 2018, c. 48, and P.L. 2020, c. 118

(a) If the retroactive provisions at P.L. 2018, c. 48, result in an additional tax liability for privilege periods beginning on or after January 1, 2017, no penalties or interest shall accrue for underpayment of tax; provided, however, that additional payments must be made by either the second next estimated payment subsequent to the enactment of P.L. 2018, c. 48, by December 31, 2018, for privilege periods beginning on or after January 1, 2017, or by the first estimated payment due after January 1, 2019, for privilege periods beginning on or after January 1, 2018.

(b) In the first privilege period that a mandatory combined return is due, no penalties or interest shall accrue due to underpayment that may result from the change from separate returns to mandatory combined returns. Any overpayment by a member of the combined group from the prior privilege period will be credited as an overpayment of the tax owed by the combined group, credited toward future estimated payments by the combined group.

(c) For the first privilege period of the taxpayer impacted by the enactment of P.L. 2020, c. 118, where such privilege period began before January 1, 2021, no penalties or interest shall accrue for underpayment of tax, due to the provisions at P.L. 2020, c. 118, applying retroactively to privilege periods ending on or after July 31, 2020, that create an additional tax liability due to the provisions at P.L. 2020, c. 118; provided, however, the additional estimated payments shall be made by the later of the second next estimated payment subsequent to the enactment of P.L. 2020, c. 118, or the second estimated payment due after January 1, 2021.