Is your business considered “essential” under Governor Pritzker’s Executive Order?
NACC has received many calls from members regarding whether their business is considered essential under Governor Pritzker’s Executive Order issued last Friday (3.20.20). We recognize that the definition is quite broad. Read further using our resource below and/ or inquire with the Department of Commerce and Economic Opportunity.
- Businesses and employees with questions can call the Department of Commerce and Economic Opportunity COVID-19 hotline at 1-800-252-2923 or email CEO.firstname.lastname@example.org
Help for Small Businesses to Pay Sick Leave & Business Tax Credits Available
Below is a link to the IRS’ web site that discusses tax relief for small businesses that pay coronavirus-related paid leave to employees, as well as a summary of certain provisions of the FFCRA. Thank you Chamber Member, Thomas G. Oddo, for this update (Partner, Lillig & Thorsness available at email@example.com, (630) 571-1900)
2-Month Sales Tax Deferment for Businesses
Illinois Department of Revenue issued Informational Bulletin FY 2020-23 to provide specifics as to the Governor’s announcement about the penalty and interest relief to certain businesses. Thank you, Keith Staats, Executive Director, Illinois Chamber of Commerce Tax Institute, (217) 522-5512 ext. 231, for this update!
More on SBA Disaster Loans & Other Resources
Below is another useful link from the IL Department of Commerce & Economic Opportunity with more information regarding the SBA Disaster Loan that we have mentioned in earlier updates and other resources.
Federal Support Update
The Phase III financial package which was expected to be approved by Congress on Wednesday got stalled in the US Senate today. Click here to review key elements of this package provided by the U.S. Chamber in their support letter to the U.S. Senate.
Chamber officials are expecting a Phase IV economic stimulus bill to be introduced once Phase III has been passed and operational.
Other Relief: Student Loans
Stay tuned for daily updates and do not hesitate to reach out for additional details or resources about the information provided in today’s brief.
Reba Osborne, Director of Government Affairs