Minnesota Department Of Revenue To Issue Business Relief Payments

Shakopee MN

22 December, 2020

3:12 AM

Description

Press release from the City of Shakopee: December 21, 2020 The Minnesota Department of Revenue will send COVID-19 Business Relief Payments to eligible businesses under a $216 million economic relief package signed into law Dec. 16. Eligible business owners do not need to take any action to receive this aid. The Department of Revenue will determine eligibility and payment amounts based on the program requirements that were included in the legislation and outlined below. Eligible Businesses This program provides direct payments to businesses required to temporarily close or reduce services in November under Executive Order 20-99. Businesses in the following categories, as reported by the Minnesota Unemployment Insurance program, may be eligible: Full- and limited-service restaurants Cafeterias and buffets Caterers Bars Breweries with taprooms Family wineries with tasting rooms Distilleries with tasting rooms Bowling centers Gyms and fitness centers Program Requirements The Department of Revenue will send payments to eligible businesses that meet the rest of the program requirements: Located in Minnesota Had at least $10,000 in taxable sales in 2019 Filed Sales Tax returns in 2019 and 2020 Experienced a 30-percent drop in year-over-year taxable sales for April-September periods Required to temporarily close or reduce services by Executive Order 20-99 Relief Payment Amounts Eligible businesses will receive a payment based on their number of employees and participation in the state Unemployment Insurance system. The payments are considered taxable income and will be calculated as shown below. EMPLOYEES (FULL- AND PART-TIME)PAYMENT AMOUNT1 to 20$15,00021 to 100$25,000101 to 300$25,000301 or more$45,000More information is available on the Minnesota Department of Revenue website. This press release was produced by the City of Shakopee. The views expressed here are the author's own.