By MMC Staff
As we navigate through the ever-changing COVID environment, we will provide information on developments, regulations, and programs surrounding the outbreak.
Help for local businesses-
Sales and use tax extensions
The Wisconsin Department of Revenue (DOR) announced that small businesses can immediately request an extension to file sales and use tax returns. This comes along with extending the income tax payment and return due date to July 15. DOR has announced a series of steps to ease payment guidelines and postpone audit actions.
SBA express bridge loans-
This program allows small businesses who have a current relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can help small businesses access capital quickly and can be used to bridge the gap while applying for an SBA Economic Injury Disaster Loan.
Paycheck protection program-
This program was rolled out under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and authorizes $349 billion toward job retention loans. They are specifically designed to help small business keep their workforce employed. If you maintain your workforce, the SBA may forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll and certain other expenses following loan origination.
Central Wisconsin county numbers-
As of April 6, central Wisconsin county numbers were: Adams – positive cases, 2; negative cases, 59; deaths, 0. Clark – positive cases, 7; negative cases, 79; deaths, 0. Lincoln-positive cases, 0,; negative cases:83,; deaths: 0. Marathon – positive cases, 12; negative cases, 298; deaths, 0. Portage – positive cases, 3; negative cases, 109; deaths, 0. Wood – positive cases, 2; negative cases, 219; deaths, 0.