Additional Business Support for COVID-19
Government Agencies, Companies and non-profit organizations are all gearing up to support small businesses being impacted by COVID-19. Read more below.
The North Carolina Department of Revenue is providing penalty relief for taxpayers affected by the Novel Coronavirus. Penalties being waived include:
- The penalty for failure to obtain a license (G.S. 105-236(a)(2);
- The penalty for failure to file a return (G.S. 105-236(a)(3))
- The penalty for failure to pay tax when due (G.S. 105-236(a)(4)); and
- The penalties regarding informational returns (G.S. 105-236(a)(10)).
- Affected Taxpayers who cannot meet their filing or payment requirement as a result of COVID-19 should complete Form NC-5500, Request to Waive Penalties (“NC-5500”). Affected Taxpayers should write “COVID-19” on the top of the NC-5500.
State Tax Deadline
On March 19, 2020, the North Carolina Department of Revenue announced penalty relief for taxpayers paying income tax due on April 15, 2020. For State income and franchise tax returns originally due on April 15, 2020, the Secretary of Revenue has extended the time to file the returns to July 15, 2020.
For more information, see the press release issued by the Department of Revenue.
Annual Report Filing Extension
The North Carolina Secretary of State will not consider Annual Reports which are due to be filed on April 15th delinquent until after June 15th. This applies to corporate and some partnership entities with a fiscal year ending December 31st, 2019. Businesses are still encouraged to file only by April 15th if possible.
Federal Tax Deadline
In Notice 2020-18 (PDF), the Treasury Department and the Internal Revenue Service (IRS) announced special Federal income tax return filing and payment relief in response to the ongoing Coronavirus Disease 2019 (COVID-19) emergency. As a result of the relief, the deadlines to FILE and PAY federal income taxes are extended to July 15, 2020.
The IRS has put together a Frequently Asked Questions (FAQ) page to help tax payers and businesses learn about this new deadline extension.
Utility Payment Fees Waived
Several utilities serving North Carolina have suspended disconnections and late fees in response to the Coronavirus pandemic.
Duke Energy and Piedmont Natural Gas
- Duke Energy and its subsidiary, Piedmont Natural Gas, announced that the company will waive late payment fees and fees for returned payments for electric and natural gas customers across its service territories beginning Saturday March 21 until the national state of emergency is lifted. The company also announced that they will not disconnect any customer’s service for non-payment, in order to give customers experiencing financial hardship extra time to make payments.
- Dominion Energy has suspended all service disconnections for small businesses and residential customers. The company also offers payment arrangements for customers facing severe financial strain.
- Small Business and Residential customers of Spectrum who face difficult economic circumstances related to the COVID-19 pandemic will not have their internet, TV, or voice service terminated. In addition, the company will not charge late fees for those customers facing difficult economic circumstances related to the pandemic.
City of Durham Assistance
- ParkDurham has suspended issuing parking citations for nonpayment at the paystations and overtime parking until further notice. However, staff will continue to issue parking citations in the downtown area for illegal parking in loading zones, sidewalks, fire lanes, bus lanes, ADA parking spaces, crosswalks, etc.
Curbside Delivery Zones
- ParkDurham has temporarily converted on-street metered parking spaces in downtown Durham to Curbside Delivery Zones. Customers are strongly encouraged to only park for the actual time needed to pick up restaurant orders. The zones are in response to Governor Cooper’s executive order that closed all restaurants and bars in North Carolina except for takeout and delivery orders. Once Governor Cooper’s executive order is lifted, the spaces will return to on-street metered spaces.