Your super-center of COVID-19 resources for small businesses. Vetted and updated daily.
April 1, 2020
Added “The Big Ones” section to emphasize important programs
Added WI Sales Tax Relief
March 31, 2020
Added “Other Important Resources” section to Families First Coronavirus Response Act
Updated Seattle, WA 2020 Emergency Fund for Businesses Impacted by COVID-19 to reflect that applications have now closed
Added Bill.com offer for new clients affected by Covid-19 in Free Tools section
Added Kabbage Gift Card
Added WeFunder Loan
The Big Ones
This section has the loans and programs we suggest all small businesses strongly consider.
Paycheck Protection Program
Summary: This is a loan we highly recommend. Up to $10 million dollar loan with forgivable portions. related to payroll costs, rent, mortgage interest, and\or utilities. Unforgivable portions have very favorable terms.
Economic Impact Disaster Loan (EIDL)
Summary: The EIDL can provide up to $2 million in loan financing to a small business in a presidentially declared disaster area (the whole U.S.)
SBA Express Bridge Loan
Summary: This loan provides quick access to cash for small businesses that have applied for and are waiting for long-term financing. Up to $25,000 for small business located in communities presidentially declared as disaster areas.
Loans and Grants
Banks Offering Assistance During COVID-19
Several banks are providing assistance to clients at this difficult time:
Various banks offer to waive fees and penalties at customer’s request
Various banks offer deferment of loan payments at customer’s request
Various banks offer to waive CD early withdrawal penalties
Most banks have a designated web page outlining the options that clients have at this time.
The ABA has compiled a very comprehensive list of banks and their offerings for relief here.
US Small Business Administration COVID-19 Disaster Assistance
Summary: Once an Economic Injury Disaster Loan assistance declaration is issued by the SBA (state-by-state basis, upon request from a state’s governor), loans become available to small businesses and private non-profit organizations. All 50 states plus American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands now eligible. Updated list and application available below:
Facebook Small Business Grants Program
Summary: in response to COVID-19 , Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses. We’ll share more details as they become available.
Program is not launched as of March 18.
Summary: Amazon’s primary efforts are related to delivering household staples and medical supplies, as well as hiring workers from heavily impacted industries until their former jobs can be reinstated. Shoppers can choose “no-rush shipping” to allow for easier bundling. Grants are available to specific businesses, mostly those in Seattle and nonprofits working directly on COVID-19-related causes.
Freelancer’s Union Relief Fund
Freelancers Relief Fund will offer financial assistance of up to $1,000 per freelance household to cover lost income and essential expenses not covered by government relief programs.
James Beard Loans for Small Businesses
Summary: The Foundation launched a fund that will be gathering support from corporate, foundation, and individual donors to provide micro-grants to independent food and beverage businesses in need.
Summary: Kiva is offering 0% interest loans up to $15,000. New borrowers may access a grace period of up to 6 months for greater financial flexibility.
Mainvest Loans for Restaurants
Summary: Mainvest is offering a $2,000, 0% interest, 120-day loan for restaurants or other brick-and-mortars affected by the shutdown.
Opportunity Fund Loans for Small Businesses
Summary: Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest-rate loans to business owners in need.
Restaurant Workers’ Community Foundation COVID-19 Emergency Relief Fund
Relief grants are available to restaurant workers, or employees of bar and restaurant suppliers, who are facing unforeseen expenses that cannot or will not be covered by insurance.
No-interest loans for small businesses may become available in the near future.
Washington Federal Bank Line of Credit
If you are a business who has been negatively impacted by the COVID-19 virus, WaFd Bank is here to help with emergency funding for your small business. Those who have seen a 10% or greater drop in revenues can apply to receive up to $200,000 on business lines of credit with 90 days interest-free. Offer available in AZ, ID, OR, NM, NV, UT, WA and Dallas/Austin TX only.
Arkansas Quick Action Loan Program
Summary: Small to medium-sized companies that are in the supply chain of essential goods and services may apply for a loan or loan guaranty of up to $250,000.
Arkansas Community Development Block Grant (CDBG)
Up to $12 million in CDBG assistance will be made available via grants to eligible local governments
California Small Business Loan Guarantee Program & Disaster Relief Loan Guarantee Program
Summary: Available to small businesses and eligible nonprofits located in California with 1-750 employees. Loans of up to $20 million are available, with a maximum guarantee of $1 million. This is one of several resources available at the source page – scroll down for details.
California Jump Start Loan Program
Summary: Available to small businesses or low-wealth individuals becoming a small business that are located in California. Loan amounts range from $500 to $10,000 with terms of up to 5 years. This is one of several resources available at the link below:
Florida Small Business Emergency Bridge Loan Program
Summary: Up to $50,000 for eligible small businesses with 2-100 employees, up to $100,000 in special cases. Interest-free for one year, 12% thereafter. Applications accepted through May 8, 2020, contingent on the availability of funds. All Florida counties eligible.
Florida Department of Economic Opportunity Business Damage Assessment Survey
UPDATE 3/30/2020 Please note this survey is no longer avaiable
Summary: Submit information to help Florida state agencies and local partners assess the impact of COVID-19 on the local economy. Surveys submitted by small businesses can be used to access the Small Business Administration’s Economic Injury Disaster Loan through the Coronavirus Preparedness and Response Supplemental Appropriations Act.
Iowa Small Business Relief Fund
UPDATE: Application deadline is Tuesday, March 31 at 12 p.m. (noon)
Summary: The program offers grants ranging from $5,000-$25,000, in addition to offering a deferral of sales and use or withholding taxes due and waiver of penalty and interest to eligible businesses.
Maine COVID-19 Relief Business Direct Loan Program
Summary: Maine-based businesses experiencing interruption or hardship due to COVID-19 whose other sources of capital have been exhausted can apply for loans up to $50,000.
New Jersey NJEDA Small Business Emergency Assistance Loan
Direct loans of up to $100,000 to NJ-based small businesses and non-profits organizations that qualify stated conditions.
UPDATE: Applications are targeted to open on the week of March 30th. Completed applications will be considered on a first come, first serve rolling basis.
New Jersey NJEDA Entrepreneur Guarantee Program
The program provides a guarantee of an investor loan advanced for working capital to an entrepreneurial company that has been impacted by COVID-19.
New Jersey NJEDA Small Business Emergency Assistance Grant
The Small Business Emergency Assistance Grant Program will provide up to $5,000 to NJ-based SMEs that have between 1–10 full time equivalent employees (“FTE”).
North Dakota Development Fund Loans Primary Sector Businesses
The fund provides “flexible financing” through loans and equity investments not available from most conventional lenders and is available to any primary sector business with the exception of production agriculture
North Dakota Rural Growth Incentive Program Emergency Loans
Under this program, the Department may declare an emergency and make loans to “Essential Service Companies.” These include gas stations; pharmacies; grocers and, in some cases, restaurants.
North Dakota Childcare Loan Program
Loans to certified day cares to ensure continuity.
Maryland Grant and Loan
Summary: The state’s Department of Commerce released two initiatives for small businesses:
Massachusetts Small Business Recovery Loan Fund
Summary: Up to $75,000 available to businesses with under 50 full- and part-time employees, including nonprofits. No payments due for the first 6 months. Negative impact of COVID-19 must be verifiable. 30 months of principal and interest payments, no prepayment penalties. Administered by the Massachusetts Growth Capital Corporation (quasi-public).
Michigan Small Business Relief Program
Summary: Both grants (up to $10,000) and loans ($50,000 to $200,000) available. Companies with 50 employees or fewer are eligible for grants; loans available to companies with up to 100 employees that cannot get credit elsewhere. All applicants must demonstrate income loss. Applications are expected to become available April 1st, 2020.
Minnesota Loan Program
Summary: Minnesota has established a loan program to assist small businesses directly and adversely affected and whose industry is named in Executive Orders 20-04 and 20-08 following the COVID-19 pandemic.
New Mexico Local Economic Development Act
Summary: Provides grants for businesses to pay for land, buildings, and infrastructure to relocate or expand. Because of the recent Statewide Public Health Emergency declaration, the EDD has been authorized to make no-interest loans from LEDA to assist COVID-19 impacted businesses as well. Applicants must be qualified manufacturing businesses with over 50% of revenue outside of New Mexico or retail businesses in communities with a population under 15,000.
Pennsylvania COVID-19 Working Capital Access Program
Funds through this emergency response fund will be used for working capital loans of up to $100,000 directly to small businesses and hopefully nonprofits (those that employ 100 or fewer persons).
Utah Liquor Buyback
Per the state governor’s orders, licensees impacted by recent health orders may make returns of product to the Department of Alcoholic Beverage Control.
Utah Leads Together Small Business Bridge Loan Program
Utah Governor’s Office of Economic Development is offering a bridge loan to Utah-based small businesses with 50 or fewer employees impacted by the COVID-19 pandemic. Loan amounts range from $5,000 to $20,000 with 0% interest for up to a 60-month period. Loan amounts shall not exceed three months of demonstrated operating expenses. Loan payments are deferred for 12 months.
Washington DC Small Business Recovery Microgrants Program
The DC Small Business Recovery Microgrants Program will offer grants to small, local businesses, independent contractors, self-employed individuals, and nonprofits to meet their short-term financial needs.
City and Local Loans/Grants
Birmingham, AL Loan
Summary: For-profit businesses with less than 50 employees located within the Alabama Birmingham city limits that have been operating for at least one year are eligible to apply.
UPDATE: The first round of Applications Closed on March 27, 2020. A second round of applications will be opened if there is money available after the first round of loans have been administered.
Los Angeles, CA Small Business Emergency Microloan Program
Summary: Emergency microloans of $5-20K available to LA businesses that provide low-income jobs. Terms from six months to one year carry 0% interest; five-year loans have interest rates of 3%-5%. Funds can be used for working capital only. Contingent upon credit history.
San Francisco, CA COVID-19 Small Business Resiliency Fund
Summary: Up to $10,000 available for employee salaries and rent. Available to business with 1-5 employees, with less than $2,500,000 in gross receipts, that can demonstrate a loss of 25% or more due to COVID-19. Must be engaged in activities that are regulated by the City and County of San Francisco and have a license/permit associated to that regulation.
Sacramento, CA Loan
Summary: Zero interest loans up to $25,000.
San Diego, CA Small Business Relief Fund
Summary: Provides grants and loans ranging from $10,000 to $20,000 to eligible, qualified small businesses that employ fewer than 100 full-time-equivalent employees.
Denver, CO Small Business Emergency Relief
Summary: Grants available on a case-by-case basis. Submit a questionnaire to apply and receive information about “the most appropriate support for you and your business.
Chicago, IL Small Business Resiliency Fund
Summary: The city of Chicago has established a $100 million Chicago Small Business Resiliency Fund to be made available to eligible businesses as low-interest loans. Terms of up to 5 years available. Loan amount based on revenues before the COVID-19 outbreak, up to $50,000. Proceeds must be used for working capital, at least 50% toward payroll and to retain workforce at least 50% of pre-COVID-19 levels.
UPDATE: The first round of Applications Closed on March 27, 2020. A second round of applications will be opened if there is money available after the first round of loans have been administered.
New Orleans, LA Gig Economy Relief Fund
Grants of $500 – $1,000 being awarded dependent on a determination of need per established criteria.
New York City, NY Employee Retention Grant Program
Summary: Available to businesses located in one of NYC’s five boroughs that have been operating for at least six months and have no current tax liens or legal judgements. Businesses with one to four employees may apply for grants of up to $27,000 to cover 40% of payroll costs for two months. Must be able to demonstrate revenue loss.
New York City, NY Small-Business Loans
Summary: Up to $75,000 in zero-interest loans available to businesses with less than 100 employees that have seen sales decreases of 25% or more due to COVID-19. 40% of payroll costs covered for businesses with less than 5 employees.
New York City, NY Small Business Continuity Fund
Summary: Only an interest form is available at this stage. Criteria is similar to the New York City Employee Retention Grant Program, but available to businesses with up to 100 employees. Up to $75,000 in interest-free loans.
Beaverton, OR Emergency Business Assistance Program
UPDATE: The grant program is no longer accepting applications as of 3/30/2020
Summary: $2,500 per month in rent or mortgage assistance available to businesses with fewer than 50 employees that were ordered to close as a result of the city’s declared state of emergency.
Portland, OR Small Business Relief Fund
Prosper Portland hopes to offer $1 million of available funding to impacted community businesses through these emergency relief grants. Applications open March 30, 2020 and close April 1, 2020.
Philadelphia, PA Small Business Relief Fund
The Philadelphia COVID-19 Small Business Relief Fund offers grants or zero-interest loans to Philadelphia small businesses impacted by the COVID-19 pandemic.
Columbia, SC Small Business Loans
Provides $500,000 for zero interest forgivable loans for small businesses with less than 100 employees, such as restaurants, retail shops, barber shops and salons, cleaning services, small event venues and others.
Salt Lake City, UT Emergency Loan Program
Summary: Available to businesses within SLC limits with fewer than 50 employees. Loans of up to $20,000 with 0% interest 5-year terms. Loans can be used only for working capital, marketing, and inventory. See also the US Small Business Administration’s Economic Disaster Assistance Program.
UPDATE: A second round application period will be open until Thursday, April 2nd at 11:59 p.m
Seattle, WA 2020 Emergency Fund for Businesses Impacted by COVID-19
Summary: Applications have now closed.
The following are options for business credit and can be useful in any economy.
Amazon Lending Repayments Paused
Amazon lending is pausing repayment from sellers who have outstanding loans until April 30, and seller loans will not accrue interest during a 30-day period. Applicable individuals should have received an email directly from Amazon on or after March 26, 2020.
The Brex corporate card offers interest free financing for eCommerce companies with rolling net 60 terms. There are no fees or interest. Application, approval and funding are “instant” and advanced fraud protection is included.
QuickBooks Capital customers with upcoming payments and access to funds. Customers who, due to hardship from this pandemic, are struggling to make their loan payment, can receive up to an 8-week deferral on loan payments with no interest charged.
Kabbage lets businesses sell gift cards to receive revenue for services to be rendered in the future. Free account.
Veem is a solution for no or low fee wire transfers and ACH payments. Veem Capital can be used towards payments in Veem. has a quick application and approval process and businesses can access between $500-$500,000 for their payments.
The Pay Later program is used for Accounts Payable or payments and enables US businesses to select bills they want Veem to pay now while having the flexibility to pay off over time. Get 30 days free or up to 6 months as low as 1% per month.
The Paid Now program gives businesses access to additional capital by receiving an advance on customer invoice payments as soon as the next business day for a flat 2% transaction fee.
Raise funding from your fans on very generous terms. Payments based on revenue and deferred until 2021. Reward investors with perks when business is back.
IRS Tax Deferral
IRS Tax Payment Deferral
Summary: All individual and other non-corporate tax filers are allowed to defer up to $1 million of federal income tax, including self-employment tax, payments. The deferment is from April 15, 2020 to July 15, 2020 and includes zero penalties or interest. The guidance also allows corporate taxpayers a deferment of up to $10 million of federal income tax payments.
Update: Tax Day is now moved to July 15, 2020. All tax filings and payments for all federal income taxes (including self-employment tax) due on April 15, 2020, regardless of amount, will now be due on July 15, 2020.
State Tax Deferrals (in alphabetical order)
Taxpayers can also defer state income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers.
Arizona Tax Deferral
The Arizona Department of Revenue (ADOR) has announced it has moved the deadline for filing and paying state income taxes from April 15 to July 15, 2020.
The announcement by ADOR includes individual, corporate and fiduciary tax returns.
The new deadline means taxpayers filing state tax returns or submitting payments after the previous April 15 deadline will not be assessed late filing or late payment penalties.
California Tax Deferral
California is moving the various tax filing and payment deadlines that occur on March 15, 2020, through June 15, 2020, to June 15, 2020. This includes:
Partnerships and LLCs who are taxed as partnerships whose tax returns are due on March 15 now have a 90-day extension to file and pay by June 15.
Individual filers whose tax returns are due on April 15 now have a 60-day extension to file and pay by June 15.
Quarterly estimated tax payments due on April 15 now have a 60-day extension to pay by June 15.
Colorado Tax Deferral
The income tax payment deadline has been extended for all Colorado taxpayers by 90 days until July 15, 2020. All income tax returns that were required to be filed by April 15, 2020 are granted a six-month extension, and are due on or before October 15, 2020.
Connecticut Tax Deferral
Connecticut Department of Revenue Services is extending the filing and payment deadline for personal income tax returns 90 days, to July 15, 2020. The extension also applies to Connecticut estimated income tax payments for the first and second quarters of 2020.
Delaware Tax Deferral
Personal income tax returns, estimated personal income tax returns and fiduciary income tax returns that would be due on April 30, 2020 will now be due on July 15, 2020.
District of Columbia Tax Deferral
The deadline for taxpayers to file and pay their 2019 District of Columbia individual and fiduciary income tax returns, partnership tax returns and franchise tax returns is extended to July 15, 2020.
Georgia Tax Deferral
The Georgia Department of Revenue is automatically extending the 2019 income tax filing and payment deadline to July 15, 2020.
Idaho Tax Deferral
Governor Little has extended the 2019 Idaho income tax filing and payment deadlines from April 15, 2020, to June 15, 2020. The extension applies to all taxpayers – including individuals, businesses, and entities – regardless of the amount owed. Penalty and interest won’t apply if taxpayers file their return and pay the income tax they owe by June 15.
Illinois Tax Deferral
The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Illinois income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to all individual returns, trusts,and corporations. This relief is automatic, taxpayers do not need to file any additional forms or call IDOR to qualify.
Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. You will automatically avoid interest and penalties on the taxes paid by July 15, 2020.
Indiana Tax Deferral
Individual tax returns and payments, along with estimated payments originally due by April 15, 2020 are now due on or before July 15, 2020. Returns included are the IT-40, IT-40PNR, IT-40RNR, IT-40ES, ES-40 and SC-40.
Corporate tax returns and payments, along with estimated payments originally due by April 15 or April 20 are now due on or before July 15, 2020. Those originally due on May 15, 2020, are now due on August 17, 2020. Returns included are the IT-20, IT-41, IT-65, IT-20S, FIT-20, URT-1, IT-6, FT-QP and URT-Q.
All other tax return filings and payment due dates remain unchanged.
Iowa Tax Deferral
Order extends filing and payment deadlines for income, franchise, and moneys and credits taxes with a due date on or after March 19, 2020, and before July 31, 2020, to a new deadline of July 31, 2020.
Specifically, the order includes:
IA 1040 Individual Income Tax Return and all supporting forms and schedules
IA 1040C Composite Return and all supporting forms and schedules
IA 1041 Fiduciary Return and all supporting forms and schedules
IA 1120 Corporation Income Tax Return and all supporting forms and schedules
IA 1120F Franchise Tax Return for Financial Institutions and all supporting forms and schedules
IA 1065 Iowa Partnership Return and all supporting forms and schedules
IA 1120S S Corporation Return and all supporting forms and schedules
Credit Union Moneys and Credits Tax Confidential Report
No late-filing or underpayment penalties are due for qualifying taxpayers who comply with the extended filing and payment deadlines in this order. Interest on unpaid taxes covered by this order shall be due beginning on August 1, 2020.
Kansas Tax Deferral
Extending deadline for filing and payment of the 2019 tax returns for individual income tax, fiduciary income tax, corporate income tax, and privilege tax to July 15, 2020. No penalty will be imposed if paid on or before July 15, 2020.
Kentucky Tax Deferral
Extending the 2019 Kentucky income tax return filing due date from April 15, 2020 to July 15, 2020.
Late filing penalties will be waived for 2019 Kentucky income returns that are filed by July 15, 2020.
Kentucky income tax payments due on April 15, 2020 are deferred for 90 days to July 15, 2020.
Late payment penalties will be waived for income tax payments deferred from April 15, 2020 to July 15, 2020. However, interest still applies to the deferred income tax payments because Kentucky law prohibits the waiver of interest.
The Kentucky relief applies only to income taxes.
Louisiana Tax Deferral
The due date for income and franchise tax returns and any payments due with the returns is extended to July 15, 2020. This applies to Partnership, Individual, Fiduciary, and Corporation Tax Returns.
No penalties or interest will be assessed provided that the return and payment are submitted to the Department by the July 15, 2020, extension date. For fiscal year filers with an income tax or franchise
tax return and payment due date between March 1 and May 30, 2020, the automatic extension for the return and payment is sixty days from the original due date.
Maryland Tax Deferral
There is a 90-day extension of the April 15th deadline for federal income tax payments, Maryland business and individual income taxpayers will be afforded the same relief. No interest or penalty for late payments will be imposed if 2019 tax payments are made by July 15, 2020.
Taxpayers who take advantage of the federal extension to file their return, which is separate from the relief granted today to pay their taxes, will continue to be automatically granted an extension on their Maryland tax filings. No additional extension forms are required. Fiscal year filers with tax years ending January 1, 2020, through March 31, 2020, are also eligible for the July 15, 2020 extension.
Minnesota Tax Deferral
Minnesota is allowing additional time for making 2019 state individual income tax filings and payments to July 15, 2020, without any penalty and interest being applied. This includes estimated tax payments for individual income taxes due for the 2019 tax year.
This grace period does not include estimated tax payments for individual income taxes due April 15, 2020, for the 2020 tax year.
Mississippi Tax Deferral
The deadline to file and pay the 2019 individual income tax and corporate income tax is extended until May 15, 2020. The first quarter 2020 estimated tax payment is also extended until May 15, 2020. Penalty and interest will not accrue on the extension period through May 15, 2020. Withholding tax payments for the month of April are extended until May 15, 2020.
The extension does not apply to Sales Tax, Use Tax, or any other tax types. These returns should be filed and paid on the normal due date. The extension also does not apply to payments on prior liabilities. However, the Department will consider an extension of time to file and pay on a case-by-case basis.
Missouri Tax Deferral
The deadline to file income tax returns has been extended from April 15, 2020, to July 15, 2020.
Income tax payment deadlines for individual and corporate income returns with a due date of April 15, 2020, are extended until July 15, 2020. This payment relief applies to all individual income tax returns, income tax returns filed by C Corporations, and income tax returns filed by trusts or estates. The Department of Revenue will automatically provide this relief, so filers do not need to take any additional steps to qualify.
This relief for individuals and corporations will also include estimated tax payments for tax year 2020 that are due on April 15, 2020.
Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. Individuals and corporations that file their return or request an extension of time to file by July 15, 2020, will automatically avoid interest and penalties on the tax paid by July 15.
Montana Tax Deferral
Extended the payment and filing deadlines for 2019 individual income taxpayers to July 15 in accordance with the new federal filing deadline.
Nebraska Tax Deferral
The tax filing deadline will automatically be extended to July 15, 2020 for state income tax payments and estimated payments that were originally due on April 15, 2020. Nebraskans who are able to pay earlier are encouraged to do so to help the State manage its cash flow.
New Hampshire Tax Deferral
Taxpayers who have paid their tax in full by the return due date are entitled to an automatic 7-month extension of the time to file your New Hampshire Business Tax or Interest & Dividends Tax return. No extension form is required. First quarter estimate payments for calendar year Business Tax and Interest & Dividends taxpayers are also due on April 15, 2020.
New Mexico Tax Deferral
New Mexicans will have an extra 90 days to file and pay their 2019 personal income taxes. Taxpayers will have until July 15 to file and pay any taxes due. The deadline for 2019 corporate income taxes also will be extended until July 15.
Taxpayers who elect to take advantage of the income tax extensions will not be assessed penalties as long as payment is received by July 15, 2020. Under New Mexico law, however, interest will accrue on any unpaid balances from April 15 forward.
North Carolina Tax Deferral
The Secretary has automatically extended the time for filing income and franchise tax returns due on April 15, 2020, to July 15, 2020, for individuals, corporations, and estates and trusts to mirror the announced deadline change from the Internal Revenue Service. The automatic extension also applies to partnerships.
The extension of time to file through July 15, 2020, applies to individual income tax returns, corporate income and franchise tax returns, partnership tax returns, and estate and trust tax returns due April 15, 2020.
North Dakota Tax Deferral
We are currently aligned with the IRS extension date. Individuals or businesses who are unable to file an income tax return or pay the tax by the April 15th deadline, can file and make payment through July 15, 2020, without penalty and interest.
Oklahoma Tax Deferral
Oklahoma Tax Commissioners voted to extend the deadline to pay Oklahoma income taxes that would be due April 15, 2020 to July 15, 2020, following the newly established Internal Revenue Service (IRS) deadlines. Mirroring the guidance issued by the IRS, Commissioners voted to allow all individual and other non-corporate tax filers to defer up to $1 million of income tax payments due on April 15, 2020, until July 15, 2020, without penalties or interest. Corporate taxpayers will be granted a similar deferment of up to $10 million of income tax payments that would be due on April 15, 2020, until July 15, 2020, without penalties or interest.
Oregon Tax Deferral
For Personal Income Tax (PIT), Transit Self-Employment Tax, and Fiduciary Taxpayers:
The Oregon return filing due date for tax year 2019 is automatically extended from April 15, 2020 to July 15, 2020.
The Oregon tax payment deadline for payments due with the tax year 2019 tax return is automatically extended to July 15, 2020. Estimated tax payments for tax year 2020 are not extended.
For Corporate Excise/Income Taxpayers:
The Oregon return filing due date for tax year 2019 is automatically extended from May 15, 2020 until July 15, 2020. Fiscal year returns due after May 15, 2020 are not extended at this time.
The Oregon tax payment deadline for payments due with the 2019 return by May 15, 2020 is automatically extended to July 15, 2020. Payments for fiscal year returns due after May 15, 2020 are not extended at this time. Estimated tax payments for tax year 2020 are not extended.
Pennsylvania Tax Deferral
The Department of Revenue today announced the deadline for taxpayers to file their 2019 Pennsylvania personal income tax returns is extended to July 15, 2020. This means taxpayers will have an additional 90 days to file from the original deadline of April 15.
The Department of Revenue will also waive penalties and interest on 2019 personal income tax payments through the new deadline of July 15, 2020. This extension applies to both final 2019 tax returns and payments, and estimated payments for the first and second quarters of 2020.
Rhode Island Tax Deferral
In conjunction with announcements made today by United States Treasury Secretary Steven T. Mnuchin and Rhode Island Governor Gina M. Raimondo involving the April 15, 2020, deadline for certain tax filings and tax payments, the Division of Taxation will mirror the federal extensions.
South Carolina Tax Deferral
Tax returns and payments due April 1 – June 1 will now be due June 1, 2020. Penalty and interest will not be charged if payment is made by June 1. This includes South Carolina Individual Income Taxes, Corporate Income Taxes, Sales and Use Tax, Admissions Tax, Withholding Tax, and other taxes administered by the SCDOR. The SCDOR is automatically applying this tax relief for all applicable returns and payments; you don’t need to take any additional action.
Tennessee Tax Deferral
The Tennessee Department of Revenue has extended the due date for filing and paying franchise and excise tax from April 15, 2020 to July 15, 2020. Taxpayers will have until July 15, 2020, to file returns and make any payments (including quarterly estimated payments) originally due on April 15, 2020. Interest and late filing penalties will not be applied to returns filed and payments made on or before this extended due date. The October 15, 2020, six-month extension date for the calendar year 2019 return remains unchanged. This notice applies to franchise and excise tax only.
Utah Tax Deferral
The due date of the Utah individual income tax return is the same day as the due date of the federal individual income tax return. If the IRS changes the due date due to the outbreak, Utah’s due date will also be extended.
The due dates of Utah corporate and pass through entities is set by state statute and will not be affected by IRS changes in the due dates for those returns without action by the legislature.
Virginia Tax Deferral
Any income tax payments due during the period from April 1, 2020 to June 1, 2020 can now be submitted to the Department of Taxation (“the Department) at any time on or before June 1, 2020 without penalty. As a result, the Department will automatically waive any late payment penalties that would otherwise apply so long as full payment is made by June 1, 2020. If full payment of the amount owed during the period is not made by June 1, 2020, this penalty waiver will not apply, and late payment penalties will accrue from the original date that the payment was due.
Interest will continue to accrue from the original due date of such payment. Therefore, taxpayers who are able to pay by the original due date are encouraged to do so. Taxes eligible for this payment extension and penalty waiver include individual, corporate, and fiduciary income taxes, as well as any estimated income tax payments that are required to be paid to the Department during this period.
Washington Tax Deferral
Revenue is taking the following measures to provide relief to COVID-19 impacted businesses during the state of emergency (February 29, 2020, through the end of the state of emergency, yet to be determined). These actions address a broad range of taxes and programs: business and occupation tax, real estate excise tax assessments, leasehold excise tax, forest tax, and tax deferrals for biotechnology and medical device manufacturing. We request that businesses still file their returns even if they are unable to pay.
Quarterly filers: The Quarter 1, 2020 return is now due June 30, 2020.
Annual filers: The Annual 2019 return is now due June 15, 2020.
Upon request, Revenue will work with taxpayers that are impacted by COVID-19 to adjust payment plan amounts or extend payment dates 30 to 60 days. If payment is extended, additional penalties that would have normally accrued during the extension period will be waived.
West Virginia Tax Deferral
The deadline to file 2019 annual income tax returns for individuals, trusts or estates, and corporations has been extended from April 15, 2020, to July 15, 2020. Payment deadlines for these returns are also extended until July 15, 2020. Failure to pay any balance of tax due by July 15, 2020 will result in the accrual of penalties and interest beginning July 16, 2020.
This relief also extends to estimated tax payments for tax year 2020 that are due between April 15, 2020 and July 15, 2020 for individuals, trusts or estates, corporations, and pass-thru entities.
This relief does not apply to employer withholding tax returns and payments or to any other tax collected by the Tax Commissioner.
The Department will automatically provide this relief, so filers do not need to take any additional steps to qualify for this extension of time.
Wisconsin Tax Deferral
Both federal and Wisconsin income tax payment and return due dates are automatically extended to July 15, 2020. Wisconsin law will automatically extend time and waive interest and penalties for taxpayers.
Tax filers do not have to file any extension forms to be eligible for this new due date. There is no limit on the amount of payment to be postponed, and there are no income exclusions. This applies to individuals, trusts, estates, partnerships, associations, companies or corporations. This relief is solely for income tax payments, estimated income tax payments and returns due April 15, 2020. There will be no interest or penalty for the period of April 15, 2020 to July 15, 2020. Interest, penalties, and underpayment interest for failure to make quarterly estimated tax payments with respect to such postponed federal income tax filings and payments will begin to accrue on July 16, 2020.
Sales Tax Relief
Download our Covid-19 Sales Tax Relief in PDF format (updated every week-day there are changes)
Alabama Sales Tax Relief
Summary: In the wake of COVID-19, the Department of Revenue is automatically extending relief to small retail businesses that are unable to timely pay their February, March, and April 2020 state sales tax liabilities. This relief is for small businesses whose monthly retail sales during the previous calendar year averaged $62,500 or less. They may file their monthly sales tax returns for the February, March, and April 2020 reporting periods without paying the state sales tax reported as due. Late payment penalties will be waived for these taxpayers through June 1, 2020.
After the expiration of this temporary waiver, the Department will work with taxpayers electing to utilize the waiver program. They will develop workable payment plans allowing taxpayers to pay outstanding liabilities while navigating any other impacts of COVID-19 on their businesses.
California Sales Tax Relief
Summary: Between March 12 and May 11, the CDTFA can assist individuals and small businesses impacted by COVID-19. Options include granting extensions for filing returns and making payments, relief from interest and penalties, and filing a claim for refund.
Taxpayers may request assistance by contacting the CDTFA. Requests for relief of interest or penalties or requesting an extension for filing a return may be made through online services. Taxpayers may also request assistance in writing by sending a letter via email.
Colorado Sales Tax Relief
Vail has suspended sales tax collections until future notice.
The April 20, 2020, filing and payment due date for sales tax has been extended to May 20, 2020. This is a one-time extension for state and state-administered sales taxes; it does not apply to self-collecting home-rule jurisdictions. Penalties and interest will be waived provided taxpayers file returns and remit the full amount of state and state-administered sales tax due April 20 on or before May 20.
Connecticut Sales Tax Relief
Taxpayers that have $150,000 or less in annual sales tax liability (January 1, 2019, through December 31, 2019) qualify for an automatic extension of time to file and pay.
Monthly sales tax returns and payments due March 31 and April 30 are extended to May 31, 2020.
Quarterly sales tax returns and payments due April 30 are extended to May 31, 2020.
Taxpayers who file and pay by the extended deadlines will not be subject to penalties or interest.
Illinois Sales Tax Relief
Automatic short-term relief from penalties and interest for qualifying retailers operating eating and drinking establishments that have late sales tax payments due to COVID-19.
Applies to businesses with less than $75,000 in total sales tax liability in calendar year 2019.
To qualify for the relief, taxpayers must pay their liabilities due in March, April, and May 2020 on four dates starting on May 20, 2020:
1/4 of the full liability is due May 20
Louisiana Sales Tax Relief
Sales, beer excise and wine tax returns due in March 2020 are extended until May 20, 2020.
Michigan Sales Tax Relief
The Department of Treasury is waiving penalties and interest for the late payment of tax or the late filing of the return due on March 20, 2020. The waiver will be effective for a period of 30 days; therefore, any return or payment currently due on March 20, 2020 may be submitted without penalty or interest through April 20, 2020. Any payment or return due after March 20, 2020 will not be eligible for the current waiver.
Florida Sales Tax Relief
Filing and payment due date for taxed collected in March is extended to April 30, 2020. The extension applies to sales and use tax, tourist development tax (for counties and cities administered by the DOR), new tire fees, rental car surcharge; prepaid wireless E-911 fee, lead acid battery fees, and dry cleaning gross receipts fees. Taxpayers not adversely affected by COVID-19 must file and pay on or before April 20, 2020.
Maryland Sales Tax Relief
Summary: To assist businesses affected by the economic impact of COVID-19, Maryland will extend business-related tax filing deadlines. The June 1st extension applies to certain business returns with due dates during the months of March, April, and May 2020 for businesses filing sales and use tax, withholding tax, and more.
Business taxpayers who file and pay by the extended due date will receive a waiver of interest and penalties.
Massachusetts Sales Tax Relief
Summary: Automatic six-month extension in most cases (see details in source). Penalty waivers available. MA expects to mirror IRS actions with regards to tax relief.
Michigan Sales Tax Relief
Summary: The Department of Treasury is waiving penalties and interest for the late payment of tax or the late filing of the return due on March 20, 2020. The waiver will be effective for a period of 30 days; therefore, any return or payment currently due on March 20, 2020 may be submitted without penalty or interest through April 20, 2020. Any payment or return due after March 20, 2020 will not be eligible for the current waiver.
Nebraska Sales Tax Relief
The Tax Commissioner may grant penalty or interest relief for Nebraskans having trouble meeting their state tax obligations because of COVID-19, depending on individual circumstances. To request relief, complete and mail a Request for Abatement of Penalty, Form 21, or Request for Abatement of Interest, Form 21A, with an explanation of how you were impacted.
Nevada Sales Tax Relief
Summary: Temporary Office Closure, but tax relief is not being offered right now.
North Carolina Sales Tax Relief
Summary: The North Carolina Department of Revenue is offering a limited-time waiver for penalties (but not interest) associated with failure to file a return or pay tax due. The waiver applies to failure to timely file a return or pay a tax that is due between March 15 and March 31, 2020, if the return is filed, or the tax is paid by April 15, 2020. State law prevents the Department from waiving any interest.
To qualify for the waiver, an affected taxpayer must complete Form NC-5500 (“Request to Waive Penalties”) and write “COVID-19” on the top of the form. Taxpayers must also file the return or pay the tax on or before April 15, 2020. The waiver will be considered a waiver for special circumstances.
Pennsylvania Sales Tax Relief
Summary: The Pennsylvania Department of Revenue is waiving penalties for businesses required to make Accelerated Sales Tax (AST) prepayments by March 20, 2020. The AST prepayment requirement is waived for April sales tax payments: Businesses should simply remit the sales tax they collected in March.
Rhode Island Sales Tax Relief
Summary: No filing extension, but application available to have penalties and interest waived.
South Carolina Sales Tax Relief
Summary: Tax returns and payments due April 1 – June 1 will now be due June 1, 2020. Penalty and interest will not be charged if payment is made by June 1. This tax relief automatically applies for all applicable returns and payments; you do not need to take any additional action.
Texas Sales Tax Relief
Summary: No tax relief. The Controller sees the tax dollars as the money of the Texans it was collected from. He wants businesses to continue remitting taxes on time so the government can use the funds for emergency services.
Utah Sales Tax Relief
With regard to a possible extension for sales tax, Commisioner John Valentine indicaited such a change would have to come from the legislature.
Vermont Sales Tax Relief
Businesses unable to meet the March 25th and April 25th filing deadlines for meals and room taxes or sales and use taxes will not be charged penalties or interest.
Virginia Sales Tax Relief
30-day extension to April 20th for monthly sales tax returns originally due March 20, 2020. Extension request can be made online, by fax, or in writing.
Washington Sales Tax Relief
Summary: Upon request, the Department will provide extensions for filing and paying tax returns. This only applies to returns that are due and not already paid during the state of emergency (Feb. 29, 2020, through the end of the state of emergency, yet to be determined).
60 days for monthly returns (this currently applies to the Feb 2020 and Mar 2020 returns)
30 days for the Q1/2020 return
30 days for Annual 2019 return
Small businesses can request an extension to file sales tax returns. The extension for returns due March 31 is April 30, 2020, and the extension for returns due April 30 is June 1, 2020. However, payments are due March 31 and April 30, and interest will begin accruing on those dates. The interest rate is lowered from 18% to 12%.
“Successfully Managing Remote Teams”
With many companies scrambling to figure out how to enable employees to work remotely, we want to share our experience in successfully managing remote teams.
– Remote Work Strategy
– Work Management
– Performance Management
“6 Financial Actions For Business Survival During Economic Crisis”
A free weekly webinar series. You can join anytime and get the recordings of missed webinars. Due to COVID-19, we feel like this is an important time for small businesses to look at their financial health and understand ways they can stay alive and thrive financially.
Here is our schedule for the series:
Webinar 1: “Business Financial Health Check” (March 25)
Webinar 2: “Analyzing Business Cost Structures” (April 1)
Webinar 3: “Cost Optimization Strategies ” (April 8)
Webinar 4: “Optimizing Sales Costs (COGS)” (April 15)
Webinar 5: “Cash Flow Management” (April 22)
Webinar 6: “Using Your Financials to Identify Revenue Opportunities” (April 28)
App and Tool Offerings
The following tools are beneficial for remote teams or specifically providing offerings for businesses impacted by COVID-19 restrictions.
Bill.com is waiving the first three months of subscription fees for new customers experiencing a significant decline in revenue as a result of COVID-19.
Box enables secure cloud-based file sharing. The Box business edition, for small and medium-sized businesses is free for 90 days in response to the crisis.
Starting March 31st, Brex card owners will receive extra rewards points for collaboration tools, food delivery, recurring software and everything else. They are offering a 20% off for annual Zoom subscriptions, 25% Slack, 50% Dropbox, along with other discounts on DoorDash and more.
Teams is a group chat solution that is helpful for communicating between remote teams. The full version is free with Office 365 Business subscriptions. It is also available for free with some limitations.
Podium is providing a free Text-to-Takeout tool for restaurants who want to be text enabled for customer orders.
Qualtrics is providing free survey tools to address the following:
Remote Work Pulse: The Qualtrics Remote Work Pulse helps you understand if your organization is prepared for a remote workforce, and if your employees have what they need to succeed in this new environment.
COVID-19 Customer Confidence Pulse: Know the expectations and requirements of your customers related to the COVID-19 pandemic to ensure they have the confidence they need to keep doing business with you.
Seated: Financial and legal advice for restaurant owners
Seated is offering hotline for restaurant owners to get advice from finance and law experts in the hospitality industry. Free one-hour consultation.
Summary of Shopify offers:
All Shopify stores can allow purchase of gift cards
Can change or downgrade Shopify plan at any time
Can pause Shopify store for 90 days without losing any information or data
Extended Shopify trial from 14 days to 90 days
Slack is a group chat solution that is helpful for communicating between remote teams. The Free version allows access for up to 10,000 of your team’s most recent messages, 10 integrations with other apps, and 1:1 voice and video calls.
Zoom Meetings are used for 1 on 1 or group web conferencing. The Zoom Basic account allows up to 100 participants, unlimited 1 on 1 meetings, and 40 minutes limit on group meetings.
State Work Share Plans
Summary: Many States have Work Share plans that can be utilized when production is reduced. It allows an employer to divide available work or hours of work among employees in lieu of a layoff. Under these programs businesses retain their trained workforce so when economic conditions improve they can easily recall their full-time workforce. Employees keep their jobs instead of being laid off and collect partial unemployment benefits to partially replace lost wages. The State saves money by paying only partial unemployment claims instead of paying full benefits to laid-off workers. The employer applies for the program and certain qualifications must be met on a state by state basis. Below are the States that have a Work Share Program with links to more information.
Expensify SNAP Reimbursement
Summary: Expensify will be reimbursing families with SNAP benefits $50 when they make a purchase with their SNAP card. This is a one-time, once-per-family reimbursement as long as funds last. Sign up at Expensify.org/hunger. Detailed instructions at source provided.
Families First Coronavirus Response Act
Summary: The purpose of the law is to provide emergency paid sick leave and paid family and medical leave for those affected by COVID-19. The FFCRA steps in to close the gap for workers who don’t have paid family and medical leave by providing 2 weeks of paid sick leave. It also provides up to 12 weeks of family and medical leave by making amendments to the Family and Medical Leave Act (FMLA).
Employer Payroll Tax Credit: All employers are eligible to take this tax credit if they pay wages related to this new type of Emergency leave. Any Public Health Emergency paid leave under FMLA can be 100% covered by way of a tax credit. To take immediate advantage of the paid leave credits, businesses can retain and access funds that they would otherwise pay to the IRS in payroll taxes. If those amounts are not sufficient to cover the cost of paid leave, employers can seek an expedited advance from the IRS by submitting a streamlined claim form that will be released next week.
The DOL provided these examples:
Where an eligible employer paid $5,000 in sick leave and is otherwise required to deposit $8,000 in payroll taxes, including taxes withheld from all its employees, the employer could use up to $5,000 of the $8,000 of taxes it was going to deposit for making qualified leave payments. The employer would only be required under the law to deposit the remaining $3,000 on its next regular deposit date.
Where an eligible employer paid $10,000 in sick leave and was required to deposit $8,000 in taxes, the employer could use the entire $8,000 of taxes in order to make qualified leave payments, and file a request for an accelerated credit for the remaining $2,000.
Other important resources for Families First Coronavirus Response Act:
FFCRA Poster (should be posted or distributed to employees)
Bartender Emergency Assistance Program
Summary: Available to individuals who serve beverages or are otherwise engaged in the production, promotion, or distribution of alcoholic beverages, or the spouse or child of these individuals.
Summary: Are you looking at your business cost structures in the right ways? Analyzing costs from multiple angles is key to optimizing costs, and therefore profits.
Summary: The Families First Coronavirus Response Act was one of the first bills passed to support employees affected by the coronavirus (COVID-19).
Summary: This article analyzes the US Small Business Adminstration’s Economic Impact Disaster Loan for the coronavirus (COVID-19).
Summary: Express Bridge Loans provide expedited SBA-guaranteed bridge loan financing on an emergency basis in amounts up to $25,000 for disaster-related purposes to small businesses located in communities affected by Presidentially-Declared disasters while those businesses apply for and wait for long-term financing. This loan helps a business get by until further financing is in place.
Summary: This is our quick take on the paycheck protection program, a small business loan that came out in reaction to COVID-19.. Read our summary of this program.
Summary: LedgerGurus has been a 100% remote work company since our founding in 2014. While still small, we have grown to 40+ employees across 6 states. With many companies scrambling to figure out how to enable employees to work remotely, we want to share our experience in successfully managing remote teams.
Summary: With the school closures, quarantines, and social distancing happening in many communities, we are seeing many businesses impacted by COVID-19 including some of our own customers. The impact is on the ability to operate, but even worse in terms of lost income. There is the concept of “breaking the glass” times of emergency as you would do with certain types of fire alarms. This article will cover when to break the glass with an emergency checklist of things to consider when deciding how to adapt your business to weather the financial storm we are experiencing.
Summary: The first step for businesses in economic crisis is to do a business financial health check. Our financial health check consists of the following:
Balance sheet health