Typhoon victims in CNMI get tax relief

Saipan--Victims of Super Typhoon Yutu in the Commonwealth of the Northern Mariana Islands may qualify for tax relief from the CNMI Department of Finance Division of Revenue and Taxation.

With Governor Ralph DLG. Torres having declared that a major disaster exists in the CNMI, along with President Donald J. Trump and following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency (FEMA) and the Department of Defense, as well as local agencies, the DRT is announcing today that affected taxpayers on Saipan, Tinian, and Rota may be eligible to receive tax relief.

Secretary of Finance Larrisa Larson emphasized that this tax relief is extended to residents to temporarily relieve financial burdens further compounded by island-wide recovery efforts.

“Along with Governor Torres, we hope that this offers some relief to our community as we recovery together. It is critical that taxpayers understand these guidelines and contact our office for more information or clarification if needed,” Larson said.

This declaration permits the DRT to postpone certain CNMI deadlines for taxpayers who reside or have a business in the disaster area.

Accordingly, taxpayers with deadlines for CNMI filings falling on or after Oct. 24, 2018, and before Nov. 29, 2018, are granted additional time to file through Nov. 30, 2018. This includes the quarterly CNMI estimated income tax payments, the quarterly withholding tax returns, and the local monthly business gross tax returns normally due on Oct. 31, 2018.

It also includes the gaming machine jackpot tax monthly withholding returns due on Nov. 10, 2018, and the bar and occupancy tax returns due on Nov. 20, 2018.

Tax relief not included are taxpayers who had a valid CNMI extension to file their 2017 return due to run out on Oct. 15, 2018, and CNMI tax-exempt organizations that operate on a calendar-year basis and had an automatic CNMI extensio