Restaurant and Small Business Relief
March 19, 2020
Please see the below information and attachments from Senator Laura Murphy of the 28th District. Please let us know how we or the Senator’s office can assist you during this difficult time.
RESTAURANTS & EATING ESTABLISHMENTS:
- UNEMPLOYMENT INSURANCE INFORMATION
- MISC TAX HELP -Gov. Pritzker has directed the Department of Revenue to defer sales tax payments for more than 24,000 small- and medium-sized bars and restaurants — accounting for nearly 80% of all such entities statewide. Under the directive, eating and drinking establishments that incurred less than $75,000 in sales tax liabilities last year will not be charged penalties or interest on payments due in March, April or May made late. The Department of Revenue estimates this will give relief to nearly 80% of bars and restaurants in Illinois. Penalties and interest will be automatically waived; however, qualified taxpayers must still file their sales tax return even if they are unable to make a payment. Any taxpayers taking advantage of this relief will be required to pay their sales tax liabilities due in March, April and May in four installments starting on May 20 and extending through August 20. For more information, please view IDOR's informational bulletin available at tax.illinois.gov.
SBA LOAN ASSISTANCE
- In addition, Illinois has applied for a statewide Economic Injury Declaration with the U.S. Small Business Administration. Small businesses who have been affected by the COVID-19 outbreak are encouraged to check whether they could benefit from an Economic Injury Disaster Loan by visiting sba.gov/coronavirus<http://www.sba.gov/coronavirus>.
These changes have been made possible by emergency declarations at both the State and Federal levels. Gov. JB Pritzker has signed a series of executive orders granting the authority for these changes in an effort to contain the spread of COVID-19 in the state. Please understand these policies are fluid and subject to change. Additionally, more changes might be forthcoming., If your business has any recommendations that you would like to pass on to State Senator Murphy please send them to me and we will forward them to her on your behalf for her consideration.
If you would like more information on any policy or topic, please let us know and we will do our best to work with her office and get the answer for you.