State & Local Tax Impacts of COVID-19 for Puerto Rico – 2021

Thoughtware Alert Published: May 03, 2021 | Updated: Jun 08, 2021

Information current as of April 30, 2021.

COVID-19 has changed life across the globe. Many taxing jurisdictions are taking mitigating actions to create social distance and aid taxpayers. The following is a running list of actions by jurisdiction, which generally result in additional time to file and/or pay. Further, many jurisdictions have closed their offices to in-person use by taxpayers and suspended their audit and administrative functions. This alert doesn’t cover similar waivers from local-level taxing authorities. These developments continue to quickly evolve; check with your BKD Trusted Advisor or visit our COVID-19 Resource Center for current information as needed.

Information Specific to Puerto Rico

  • Puerto Rico has extended the due date for filing income tax returns and paying the corresponding tax from April 15 to May 17, 2021, for individuals, estates, trusts, calendar year-end corporations, and other entities taxed as corporations. The extended due date also applies to entities that have a short tax year or a fiscal year 2020 and must file a tax return for tax-year 2020 on or before April 15, 2021. Individuals who qualify to pay the income tax balance due for 2020 in two installments, with the first installment due on May 17, 2021, will have until November 17, 2021, to pay the second installment, instead of October 15, 2021. In addition, for taxpayers required to make their first estimated tax payment on or before April 15, 2021, the Puerto Rico Treasury Department allows taxpayers to make the first payment on June 15, 2021, with the second estimated tax payment.
    • Puerto Rico Treasury Department, Administrative Determination 21-04; March 23, 2021.
  • Puerto Rico extended the due date from April 15, 2021, to May 17, 2021, for filing the 2020 corporate annual reports, paying limited liability company (LLC) annual fees, and requesting an extension of time to file the annual reports. Entities that request an extension to file the corporate annual reports will have until July 19, 2021, to file the reports. LLCs, however, must still pay the LLC annual fee of $150 on or before May 17, 2021. In addition, entities may request a second extension to file the annual reports on or before July 19, 2021. The second extension will extend the time to file the annual reports to on or before September 20, 2021. To benefit from this second extension, the interested party must have requested the first extension by the due date through the Registry of Corporations and Entities website and pay the corresponding $30 fee. 
    • Puerto Rico Department of State, Administrative Order 2021-02; April 12, 2021.

For more information, reach out to your BKD Trusted Advisor or use the Contact Us form below.

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