Tax Relief and Grants for Small Businesses
California has increased support for California small businesses through hiring tax credits, automatic sales tax extensions, and access to capital.
"Main Street" Small Business Hiring Tax Credit
Starting today, qualified small businesses adversely impacted by Covid-19 can reserve tax credits for hiring full-time employees. There are a limited number of credits available – so be sure to share this message TODAY.
To qualify for the credit, taxpayers (employers) must:
Have 100 or fewer employees on December 31, 2019 (all employees, including part-time employees).
Have experienced a 50% decrease in gross receipts from April to June 2020, compared to the gross receipts in April to June 2019.
Apply for a tentative credit reservation from CDTFA between December 1, 2020 through January 15, 2021.
For more information or to reserve your credit, click here.
Access to Capital & Technical Assistance
The California Rebuilding Fund is now taking loan applications to support California's small businesses—especially those located in economically disadvantaged and historically under-banked areas. Businesses with 50 employees or less and revenues less than $2.5 million or below in 2019 are eligible to apply.
For more information or to apply, click here.
Sales Tax Relief
There is also an automatic three-month tax extension for taxpayers filing less than $1 million in sales tax, an extension of existing interest and penalty-free payment agreements to companies with up to $5 million in taxable sales, and expanded interest-free payment options for larger businesses particularly affected by significant restrictions on operations based on Covid-19 transmissions. For more information, click here
State grants for eligible non-profits, small and micro-businesses. California's Office of the Small Business Advocate is working to establish the program. For updates, please sign up here.
Additional Support for Business Owners
During this unprecedented economic time, California has taken multiple actions to support small businesses. This includes:
Expanding eligibility for the California Earned Income Tax Credit to self-employed and small business owners.
Waived $800 minimum franchise tax for small and medium-sized businesses during their first year of business creation.
Exempting Paycheck Protection Program (PPP) loans provided to California small businesses under the CARES Act.
For a complete list of programs to support California businesses, click here.
Assistance for Small Business Owners and Entrepreneurs
Businesses looking for more information about the variety of COVID-19 disaster programs can use the phone numbers and emails below to access qualified business counselors at no charge. The Small Business Development Centers are committed to having every call returned within 24 hours. For further assistance please visit the JEDE Committee Website.
State Assistance for Small Business
$500 Million for New COVID Relief Grant for Small Business. The Governor announced the creation of a $500 million COVID Relief Grant administered by the California Office of the Small Business Advocate (CalOSBA) at the Governor’s Office of Business and Economic Development for small businesses that have been impacted by COVID and the health and safety restrictions. Funds would be awarded to selected intermediaries with established networks of Community Development Financial Institutions to distribute relief through grants of up to $25,000 to underserved micro and small businesses throughout the state by early 2021. Non-profits would also be eligible for these grants. CalOSBA is establishing the program and will make it available to small businesses as soon as possible.
County and City Small Business Grants
The OC Small Business Relief Program: Unincorporated Grants will allow eligible businesses to receive up to $10,000 in grant funds. This funding is intended to help local small businesses mitigate economic losses resulting from COVID-19, sustain workforce levels, and promote economic recovery from pandemic-related matter.
North Orange County Chamber of Commerce offers a downloadable step-by-step guide to help your company reopen safely and keep employees and customers healthy and informed as restrictions lift across the country. The playbook includes safety and sanitation guidance, communications advice, and other best practices information.
Anaheim Chamber of Commerce offers business resources and further assistance for those who are needing assistance or seeking grant support for their business to recover.
SafeDineOC Restaurant Program The County of Orange is supporting local restaurants that are reopening safely. Recipients can receive up to $5,000 in grant funds to reimburse for masks, employee training, site reconfiguration, cleaning supplies, and more.
California Business Portal
California Business Portal is an online computer platform where businesses can search and find custom information related to your business. There is a Service Desk with answers to common questions and a search tool to help you identify local, regional, state, and federal license and permitting requirements. The California Business Portal was developed and is maintained by GO-Biz.
Office of the Small Business Advocate
The Office of Small Business Advocate provides information and assistance to small businesses to help them succeed in the California marketplace. The Office hosts a variety of summits, forums and interagency meetings. It also maintains a comprehensive list of resources for small business technical assistance, financing and state procurement.
SCORE – Business Mentoring
SCORE is a national network of over 14,000 entrepreneurs, business leaders and executives who volunteer as mentors to America’s small businesses.
OC One Stop Mobile Program
The program starts on May 3, 2021 from 10 a.m.- 4 p.m., running 1 month long for only Buena Park residents. No walk ups. Appointments Only!