We would like to share this message we received from the Nassau Council of Chambers of Commerce with you all.
The Employee Retention Credit has its 8/31/22 deadline coming up. This could mean a lot of money to a small business. The Recovery Grant was simple. It works off of a scale, with a cap of $50,000.
Businesses can simply submit their wage reports for 2020-2021 part-time and full-time employees. Based on that information, they can receive up to $260,000 per 10 employees. For more information about this program click HERE.
Small Business RECOVERY GRANT Up to $50,000 IMPORTANT UPDATE
If a business did not apply because it was required to report a positive net profit on its 2019 Business Return and could not, that requirement has now been lifted. If the business applied and was denied at the time because of that requirement, Lendistry (they handle the grant for NYS) will reach out automatically. They shouldn’t fill out another.