SBA has extended the PPP loan program through May 31, 2021
Loans can be used to help fund payroll costs, including benefits, pay for mortgage interest, rent, utilities, worker protections costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations
Applicants must have no more than 300 employees, and demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020
For more information and to apply, visit the SBA website
Shuttered Venue Operators Grant
Applications opening soon!
Eligible entities include: Live venue operators or promoters; theatrical producers; live performing arts organization operators; relevant museum operators, zoos and aquariums who meet specific criteria; motion picture theater operators; talent representatives
Award amounts: EITHER the lesser of an amount equal to 45% of their 2019 gross earned revenue or $10 Million, OR the lesser of the average monthly gross revenue for each full month you were in operation during 2019 multiplied by 6 OR $10 Million
For more information and to apply, visit the SBA website
Restaurant & Bar Special Sales Tax Deduction
Certain restaurants, bars, and mobile food vendors may be eligible for a special sales tax deduction, which was added by House Bill 20B-1004
The special deduction applies to payment due for the following tax periods: Nov 2020 (due Dec 21, 2021), Dec 2020 (due Jan 20, 2021), Jan 2021 (due Feb 22, 2021), Feb 2021 (due Mar 22, 2021)
