POLICYMAKERS NEED TO HEAR FROM YOU: Tell Legislators How Tax Extensions Can Help Your Business
A NOTE FROM AV CHAMBER: The Apple Valley Chamber has been working directly with the MN Chamber sending letters on behalf of the Apple Valley Business community to our legislators and directly to the Governor. We have also been working with the City of AV who is working simultaneously with the County to extend property taxes, which they control. A statewide order rather than at the County level would be preferable as our businesses so often have many locations.
Last week, the Minnesota Chamber heard from businesses around the state on how delaying tax payments would help their business. But they need policymakers to hear more business voices before they return to the legislative session next week.
They are not advocating for payments not to be made, but instead are asking for time for your businesses to be able to continue to have cash to pay employees, pay benefits, pay operating costs and access federal and state loans and grants. Tell state legislators and Governor Walz how delaying tax due dates would help your business.
- The federal government has allowed for a 90-day extension of the April 15 tax payments for 2019 tax year for all taxpayers and for delay in first quarter 2020 estimated tax payment. Minnesota’s 90-day extension of the 2019 income tax payment applies to individual taxpayers including those paying business income taxes through Minnesota individual income tax. Businesses that pay taxes at the entity level do NOT have a payment delay but should have a filing delay. Minnesota did NOT delay the first quarter 2020 estimated tax for any taxpayers.
- The first half payment for property taxes is due on May 15. The Chamber recommends this payment be delayed for 60 days without incurring penalties and interest for business property taxpayers.
Your story will help lawmakers understand the importance of this tax relief during a critical time.