COVID-19 Bulletin: Tax Credits Available for COVID-Related Costs
Small businesses can now apply for a new tax credit to help offset COVID-19 costs. The $250 million COVID-19 Capital Costs Tax Credit Program will cover up to 50% of eligible expenses, for a maximum benefit of $25,000.
Eligible expenses must have been incurred between January 1, 2021, and December 31, 2022, and include:
- Supplies for disinfecting or otherwise stopping transmission
- Replacing lost perishable goods
- Sneeze guards
- Sanitizer
- Air purifiers
- Signage
- Barriers for social distancing
- Contactless pay equipment and software
- Outdoor space expansion
- Remote work capability
Eligible small businesses have under 100 employees and gross receipts less than $2.5 million.
Due to the limited appropriation for this program, businesses are encouraged to apply as soon as possible here.
Related Posts
1.27.21 COVID-19 Bulletin: Cuomo Lifts Zone Restrictions in WNY
Today, the State Legislature is passing a short-term budget extender, indicating a continued lack of consensus on a budget deal. The extender allows the state government to continue operations while buying time for the Governor and Legislature to reach an agreement on a number of outstanding issues. As we
1.25.21 COVID-19 Bulletin: PPP Round 2 Is Open & NYS Unemployment Insurance Update
Today, the State Legislature is passing a short-term budget extender, indicating a continued lack of consensus on a budget deal. The extender allows the state government to continue operations while buying time for the Governor and Legislature to reach an agreement on a number of outstanding issues. As we
1.14.21 COVID-19 Bulletin: Indoor Dining Can Resume
Today, the State Legislature is passing a short-term budget extender, indicating a continued lack of consensus on a budget deal. The extender allows the state government to continue operations while buying time for the Governor and Legislature to reach an agreement on a number of outstanding issues. As we
1/12 Webisode: Relief Package 2.0 & Employee Vaccinations
The new year brings new information employers need to know regarding COVID-19. Experts from Phillips Lytle LLP discuss how employers can better navigate two critical issues:
Details of the new COVID-19 Relief Package including: