Immediate Assistance for Businesses Impacted by COVID-19

Jan 15, 2021 | COVID19 Resources

  1. Immediate Tax Relief for Businesses Impacted by COVID-19
    1. Program administered by the California Department of Tax and Fee Administration (CDTFA)
    2. Provides an automatic three-month extension for taxpayers filing less than $1 million in sales tax on the return
    3. Extends the availability of existing interest and penalty-free payment agreements to larger companies with up to $5 million in sales tax
    4. Provides expanded interest-free payment options for larger businesses particularly affected by significant restrictions on operations based on COVID-19 transmissions
    5. For more information, please click here
  2. $500 Million for New COVID Relief Grant for Small Business
    1. Program will be administered by the CA Office of the Small Business Advocate (CalOSBA) for businesses impacted by COVID and the health and safety restrictions.
    2. Funds will be awarded to selected intermediaries with established networks of Community Development Financial institutions to distribute relief through grants of up to $25,000 to underserved micro and small businesses throughout the state by early 2021.
    3. Non-profits would also be eligible for these grants.
    4. Application opens December 30, 2020 at 8:00 AM and closes January 13, 2021 at 11:59 PM. Please click here to learn more. 
  3. Increase Funding for the CA Rebuilding Fund by $12.5 Million
    1. Program consists of $25 million to help impacted small businesses rebuild from the economic crisis and keep local economies strong.
    2. The Governor has increased funding by $12.5 million which will help the third party administrator of the fund raise $125 million to make more low-interest loans to small businesses with less access to loans from traditional banking institutions.
    3. For more information, please click here
    4. All interested small business owners can apply for a loan atwww.CALoanFund.org
  4. Main Street Hiring Tax Credit
    1. Authorizes $100 million in hiring tax credit for qualified small businesses.
    2. The credit is equal to $1,000 per qualified employee, up to $100,000 for each small business employer.
    3. Application is now open:  Link
A full list of existing state supports for businesses can be foundhere.
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