The coronavirus pandemic has strained the finances of many U.S. households. In an August 2020 survey, 25% of adults said someone in their household had experienced the loss of a job due to the outbreak. Even among those who did not lose a job, 32% said someone in their household has had to reduce hours […]
COVID-19
The RELIEF Act of 2021
Governor Larry Hogan has introduced the RELIEF Act of 2021, an emergency stimulus and tax relief package that will provide more than $1 billion for Maryland working families, small businesses, and those who have lost their jobs as a result of the COVID-19 pandemic. RELIEF FOR SMALL BUSINESSES SALES TAX CREDITS FOR SMALL BUSINESSES The RELIEF […]
SBA and Treasury Announce PPP Re-Opening; Issue New Guidance
This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
New Extended Deadlines for Certain Maryland Tax Filings and Payments in 2021
The state of emergency related to COVID-19 proclaimed by Governor Lawrence J. Hogan, Jr. on March 5, 2020 continues. Due to the economic impact on individuals and businesses, the Comptroller has extended due dates for certain tax types. This tax alert addresses additional actions taken by the Office of the Comptroller of Maryland due to […]
Comptroller Franchot Announces Forbearance for Business Tax Returns and Payments
Extension also provided for withholding and estimated income tax filings and payments ANNAPOLIS, Md. (January 6, 2021) – Comptroller Peter Franchot today announced that his agency has extended filing and payment deadlines for certain Maryland business taxes and quarterly estimated income tax returns and payments that would be due in January, February and March 2021 until […]
Maryland’s Commitment to Emergency Economic Relief
Governor Larry Hogan today announced the $250 million ‘Maryland Strong: Economic Recovery Initiative,’ which will provide funding from the Rainy Day Fund to directly assist restaurants, small businesses, local entertainment venues, arts organizations, and Main Streets across the state. The initiative doubles the state’s total commitment to COVID-19 emergency economic relief for Marylanders to $500 […]
Additional Funding Available through COVID-19 Layoff Aversion Fund
Governor Larry Hogan and the Maryland Department of Labor have announced additional funding is available beginning Wednesday, October 28th through the successful COVID-19 Layoff Aversion Fund, which is designed to support small businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. The award (up to […]
Harford County Grants
Small Business Relief and Business Owner Assistance are still available if you did not apply previously. https://www.harfordcountymd.gov/2880/COVID-19-Business-Relief-Grants Winter Restaurant Relief Grant New Restaurant Relief Grants now available even if you already received another Harford County Grant. http://www.harfordcountymd.gov/2879/Restaurant-Relief-Grant
Baltimore County COVID-19 Small Business Restaurant Reimbursement Program
Eligible businesses can apply thru Monday, November 16 to be considered for the funding. https://www.baltimorecountymd.gov/departments/economicdev/covid19-assistance/restaurantreimbursement.html
Paycheck Protection Program Loan Forgivenss
For Borrowers Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement. A borrower can apply for forgiveness once it has used all loan proceeds for which […]