On August 28, 2020, the IRS issued Notice 2020-65. Effective September 1, 2020 employers are permitted to suspend withholding and paying to the IRS eligible employees' Social Security payroll taxes. The payroll tax suspension period runs from September 1, 2020...
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COVID-19
Statewide Mask Order
On July 22, 2020, Governor Walz issued a comprehensive 15-page executive order, which details new mask obligations for Minnesotans. Beginning Saturday July 25, 2020, Minnesotans must wear a face covering in “indoor businesses and indoor public settings.”...
Rochester Mask Order – What Does This Mean for My Business?
Rochester Mayor Kim Norton has ordered that, starting July 8, 2020, all those in Rochester over the age of 2 must wear face coverings in indoor, public areas. Mayor Norton’s mask order may be found here. The order applies when an individual is in one of five specific...
UPDATE: Guidance Issued on Minnesota Small Business Relief Grants Program
The Minnesota Department of Employment and Economic Development (DEED) has posted guidance about the recently-created Minnesota Small Business Relief Grants Program. The program establishes a lottery for $10,000 grants for small businesses that can demonstrate...
Paycheck Protection Program: New Interim Final Rules and Forgiveness Applications
The SBA and Treasury have released new Paycheck Protection Program guidance and forgiveness applications. This new material addresses changes brought by the Paycheck Protection Program Flexibility Act, including those to PPP loan maturity, deferral, and forgiveness....
Minnesota Small Business Relief Grants
We are also monitoring Minnesota House File 5, which approves approximately $62 million for grants to small businesses. Half of this amount will go to businesses outside the metro area. A business will be eligible if it is owned by a permanent resident of Minnesota,...
Stay Safe MN: Phase III Begins June 10
Today, Governor Walz announced that, beginning June 10, Minnesota will enter Phase III of the Stay Safe MN plan. The Stay Safe MN plan may be found here. On June 10, Minnesotans will be able to dine indoors. Restaurants and bars may open to 50 percent capacity, capped...
Paycheck Protection Program Flexibility Act Becomes Law
President Trump has signed the Paycheck Protection Program Flexibility Act of 2020 (the "Act"). The Act makes several important revisions to the Paycheck Protection Program. It: · extends the covered period to use funds for eligible expenses from 8 weeks to the...
Stay Safe MN: New Guidelines Start June 1
Today, Governor Walz announced details about Phase II of the Stay Safe MN plan, which begins June 1. The Stay Safe MN plan may be found here. Starting June 1, outdoor dining will be allowed at bars and restaurants. Six feet will be required between tables. No more...
PPP Forgiveness Application Released
The SBA and Treasury recently released Form 3508, the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application. Here's an overview. Form 3508 has four parts: a forgiveness-calculation form, a Schedule A, a worksheet for Schedule A, and a...
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