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Resources for Businesses
- Regional workforce teams have been activated to support employers that slow or cease operations. Employers who do slow or cease operations will not be financially penalized for an increase in workers requesting unemployment benefits.
- The Governor is authorizing rapid response funding, through the Workforce Innovation and Opportunity Act, for employers eligible to remain open during this emergency. Funds may be used to clean facilities and support emergency needs.
- Governor Northam is directing all employers to follow U.S. Department of Labor guidance on workplace safety.
- Additional resources for small and large businesses are available here.
Small Business Administration (SBA) Economic Injury Disaster Loans
- Virginia has officially received an Economic Injury Disaster Loan declaration from the U.S. Small Business Administration (SBA).
- Small businesses and non-profits located throughout the state can now apply for a loan of up to $2 million from the SBA to pay fixed debts, payroll, accounts payable, and other expenses.
- To submit a loan application for the SBA Economic Injury Disaster Loan program, please visit: https://disasterloan.
Corporate, Sales, and Individual Taxes
- Businesses impacted by COVID-19 can also request to defer the payment of state sales tax due tomorrow, March 20, 2020 for 30 days.
- When granted, businesses will be able to file no later than April 20, 2020 with a waiver of any penalties.
- The Virginia Department of Taxation is extending the due date of payment of Virginia individuals and corporate income taxes. While filing deadlines remain the same, the due date for individual and corporate income tax will now be June 1, 2020.
- Please note that interest will still accrue, so taxpayers who are able to pay by the original deadlines should do so.
More information on deferring payment and how to file can be found here: www.tax.virginia.gov