Free Covid-19 Business Survival Guide
Here at Business Broker Raleigh, we want to provide you with accurate information to help you and your business weather the economic toll of Covid-19. To that end, we offer you our COVID-19 business survival guide. Click on the button below to download this free guide.
Special Report: The Economic Impact of Covid-19
Download your free copy of this detailed report on the coronavirus and its impact on the American economy.
Click here to download: COVID-19 Economic Impacts
Covid-19 Business Resources
With the passage of the 2 trillion dollar stimulus package, the federal government and the state of North Carolina have made resources available to business owners. Feel free to read some of the information below to learn more.
- Business loans up to 2 million dollars are being made available through the Small Business Administration to assist with the loss of income related to the Covid-19 Pandemic. To get more information and apply go to: https://disasterloan.sba.gov/ela/ or call 1-800-659-2955.
- The state of North Carolina has established a rapid recovery loan program to bridge the gap between when a disaster hits and when federal monies are made available. To learn more about this state program and to apply go to: https://ncrapidrecovery.org/.
- On March 21st, the U.S. Treasury Department and Internal Revenue Service announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal 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 as well as those who pay self-employment tax. To find out more go to: https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed
- On March 21st, the NC Department of Revenue (NCDOR) announced that the filing deadline will be extended from April 15 tax to July 15 for individual, corporate, and franchise taxes to mirror the announced deadline change from the Internal Revenue Service. In addition to the filing extension, the NCDOR will not charge penalties for those filing and paying their taxes after April 15, as long as they file and pay their tax before the updated July 15 deadline. However, the Department cannot offer relief from interest charged to filings after April 15. Unless state law is changed, tax payments received after April 15 will be charged accruing interest over the period from April 15 until the date of payment. These changes do not apply to trust taxes, such as sales and use or withholding taxes. To get more information go to: https://www.ncdor.gov/news/press-releases/2020/03/21/tax-filing-deadline-extended-july-15
- Unemployment insurance tax is a tax on employer payrolls paid by employers from which unemployment benefits are paid to qualified unemployed workers. In accordance with Gov. Cooper’s Executive Order 118, employers’ accounts will not be charged for individuals who are paid benefits for reasons related to COVID-19. Visit www.des.nc.gov for more details.
- The unemployment insurance system pays temporary assistance to eligible individuals who are unemployed through no fault of their own. Not everyone who applies for unemployment benefits will qualify. To provide necessary benefits to those affected by COVID-19, several requirements are waived including the one-week waiting period, the able to work and available to work requirements, the work search requirement and the actively seeking work requirements. Employees can apply for benefits online at www.des.nc.gov 24 hours a day, seven days a week. Or via the Customer Call Center at 888-737-0259.
Here at Business Broker Raleigh, we want to be your trusted source of information and assistance. If we can help you or your business please don’t hesitate to reach out to us by clicking on the button below or calling us at 919-424-1927.