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COVID-19 Joint Information Center Update: March 19, 2021

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March 19, 2021
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COVID-19 Joint Information Center Update: March 9, 2021
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FREE NFIB Webinar: What You Must Know on Making use of for A Second (or preliminary) PPP Mortgage!

Don’t miss NFIB’s PPP and COVID-19 consultants, Beth Milito and Holly Wade, as they go step-by-step on how one can apply for a PPP mortgage:

 

  • Who’s eligible?
  • The place to use?
  • New utility type
  • Find out how to calculate mortgage quantity
  • And extra!

 

(You probably have EIDL or Covid paid sick go away questions, we welcome them as properly!)

 

 

Creation of On-line Courses Hosted by Allegany Faculty of Maryland

 

From the Workplace of Delegate Mike McKay:

 

Delegate Mike McKay (District 1C) and Improvement Coordinator Invoice Valentine are proud to announce the creation of an internet class, hosted by Allegany Faculty of Maryland. This class has been designed for small companies, non-profits, home-based companies, and entrepreneurs. Each Delegate McKay and Improvement Coordinator Valentine, each small businessmen, really feel that COVID-19, has created a brand new set of challenges for enterprise. To compete efficiently, the flexibility to conduct enterprise on the web might be extra necessary  than ever earlier than. If there’s a want for presidency to once more place restrictions on enterprise, an on-line presence will assist companies to proceed.

 

The buying and selling class being provided, might be an internet class, lasting 13 weeks, one module per week. Such a category would usually price a participant over $500.00, however ACM is ready to provide this class for lower than $50.00 to aide our group. Web gross sales and advertising might be a few of the important focuses of the course. Web site creation and administration might be taught. Promoting via social media might be one other focus.

 

Delegate McKay and Mr. Valentine hope that each one District 1C companies, throughout Allegany and Washington Counties, will benefit from the provide for such helpful coaching. If , please contact Invoice Valentine at 301-268-1598 or at: billvalentine590@gmail.com. You’ll then be notified when registration is to open for this helpful class.

 

 

Current Regulation Clarifies and Expands CARES Act Worker Retention Credit score

The Inside Income Service urges employers to benefit from the newly-extended worker retention credit score, designed to make it simpler for companies that, regardless of challenges posed by COVID-19, select to maintain their workers on the payroll.

 

The Taxpayer Certainty and Catastrophe Tax Aid Act of 2020, modified and prolonged the Worker Retention Credit score (ERC), for six months via June 30, 2021. A number of of the adjustments apply solely to 2021, whereas others apply to each 2020 and 2021.

 

Efficient January 1, 2021, employers are eligible in the event that they function a commerce or enterprise throughout January 1, 2021, via June 30, 2021, and expertise both:

  1. A full or partial suspension of the operation of their commerce or enterprise throughout this era due to governmental orders limiting commerce, journey or group conferences as a consequence of COVID-19, or
  2. A decline in gross receipts in a calendar quarter in 2021 the place the gross receipts of that calendar quarter are lower than 80% of the gross receipts in the identical calendar quarter in 2019 (to be eligible primarily based on a decline in gross receipts in 2020 the gross receipts have been required to be lower than 50%).

 

Because of the brand new laws, eligible employers can now declare a refundable tax credit score in opposition to the employer share of Social Safety tax equal to 70% of the certified wages they pay to workers after December 31, 2020, via June 30, 2021. Certified wages are restricted to $10,000 per worker per calendar quarter in 2021. Thus, the utmost ERC quantity accessible is $7,000 per worker per calendar quarter, for a complete of $14,000 in 2021.

 

For extra data, see:

 

Minority Enterprise Fund Based by 4 Group Banks:

4 banks have collectively dedicated as much as $1 million in interest-free loans to help each startup and current minority-owned small companies throughout the sponsoring group financial institution markets. The financial institution serving Washington County is the Financial institution of Charles City. For particulars take a look at the hyperlink.  https://www.mybct.bank/banking-on-diversity/  

 

Please ahead this e mail to any minority-owned enterprise chances are you’ll know that may very well be helped by this funding alternative. When you or another enterprise wants assist with the mortgage course of please be at liberty to achieve out to Herb Melrath, SBA at hjmlerath@frostburg.edu 

 

UNEMPLOYMENT INSURANCE FRAUD



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