April 9, 2020
Representation | Legislation | Advocacy
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Polis Suspends Requirement for Businesses to Remit Sales Tax:
In response to the economic disruption caused by COVID-19 pandemic, Governor Jared Polis has waived penalties for business and individuals regarding tax reporting and payment deadlines, as well as giving local officials the flexibility to waive deadlines, interest and penalties. This includes suspending the requirement for businesses to remit sales tax for 30 days, penalty and interest free. This executive order extends the April 20th filing and remittance deadline to May 20, 2020, and applies to all state-administered local sales taxes.
Along with the sales tax remittance deadline extension, Polis also authorized county treasurers to temporarily waive interest on delinquent property tax payments through April 30, 2020. Under this executive order, property owners can file half of what they owe by April 30th, and make payments to pay the remaining balance through June 15th, without penalty.
For more information on all updates and changes related to taxes, deadline extensions, services and penalties, click here.
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US Chamber Urges Congress to Provide Additional Aid for Small Businesses:
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On Tuesday, the US Chamber of Commerce sent a letter to congressional leadership urging them to increase the funding in the Payment Protection Program, over concerns that the funding from the CARES act may not be sufficient. On April 3rd, just a few days after the Payment Protection Program began accepting applications, loan commitments exceeded over 10% of the $10 billion in available funds. Congress has indicated that they will take action as soon as today to increase the available funds for small businesses.
For more information click here.
Chamber Webinar Series Continues:
Focused on issues facing business owners, employees, and the community, these helpful webinars will be held bi-weekly and are complimentary to attend. Hear from industry experts on a variety of topics as we work to provide the latest news and most accurate resources in our ever-changing day to day operations.
Join us this afternoon, Thursday, April 9th at 2:00pm as experts from Mind Springs Health shares tips on how to balance the added stress you are facing during this pandemic, as a business owner and operator.
To register for today’s webinar, click here.
For a full schedule of upcoming webinars, click here.
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Your Source for COVID-19 Business Information: |
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We know information is changing minute-by-minute!
Make sure to stay up to date with the latest business information regarding COVID-19 by checking out these valuable resources including financial assistance, employee assistance, and various community updates.
Click here!
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