In August President Trump signed an Executive Order providing additional relief to Americans during COVID-19. The Executive Order provides an optional payroll tax deferral of the employee’s portion of social security withholdings from September 1, 2020 to December 31, 2020. Employers have been able to voluntarily defer their portion of the Social Security since April… Read More »
Category: Advocacy
Employee Deferral of Payroll Tax
NC enters Phase 2.5 COVID-19 reopening on Friday
North Carolina is moving to phase 2.5 of Governor Cooper’s three-phased plan. The eased restrictions will begin at 5:00 p.m. this Friday. Phase 2.5 allows: Outdoor playgrounds can reopen. Indoor playgrounds can operate at 30 percent capacity, or up to seven people per 1,000 square feet. Museums and aquariums can operate at 50 percent capacity,… Read More »
PPP Loan Forgiveness Portal Opens August 10
Lenders can begin submitting applications for Paycheck Protection Program (“PPP”) loan forgiveness on August 10th. The Small Business Administration (“SBA”) provided this update last week in a document outlining procedures for the loan forgiveness process. The notice confirmed the SBA would open a portal specific to loan forgiveness. Only lenders will have access to the… Read More »
SBA EIDL Loans and Unemployment Boost Payments Ending
EIDL Loan Update The Small Business Administration (SBA) stopped processing Economic Injury Disaster Loan (EIDL) Advance requests on July 11th. As of now, the program funds have been fully allocated. By law, the SBA is not permitted to issue new EIDL Advances once all program funding has been obligated. Sunset Date of $600 CARES Unemployment… Read More »
Business Obligations in Light of NC COVID-19 Liability Laws
North Carolina remains in Phase 2 of its reopening plan at least through August 7, a timeframe recently expanded by Governor Cooper. With new legislation and executive orders enacted frequently, many North Carolina business owners have questions about reopening and what steps they are required to take as they struggle with reopening plans. What does… Read More »
Commissioners Approve $447 Million Continuation Budget
Forsyth County commissioners passed a balanced continuation budget that maintains current service levels and lowers the property tax rate with a commitment to review additional funding requests in November, once the county has a clearer understanding of the overall impact on revenue from the COVID-19 pandemic. Normally requests for additional funding, known as Alternate Service… Read More »