COVID Response – Business Resources

The MD Department of Commerce has a site set up with business information, including loans to retain employees and more: https://businessexpress.maryland.gov/coronavirus

The Comptroller’s Office has indicated that there is an extension for ALL TAX PAYMENTS.

You can now apply for SBA emergency loans, 30-year terms, up to $2mil. Apply online at the SBA website: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Maryland Small Business Development Center Guide to loans/grants and ‘how to’ guide can be found here.

Small Business Relief & Unemployment Benefits
✔️Information on Businesses and COVID-19 can be found here
 
✔️Information on the Maryland COVID-19 Emergency Relief Fund Programs for Businesses can be found here


Maryland has authorized $130 million in loan and grant funding for small businesses and manufacturers that have been negatively impacted by the Coronavirus (COVID-19). This emergency assistance provides interim relief and proceeds that can be used to pay cash operating expenses including payroll, suppliers, rent, fixed debt payments and other mission critical cash operating costs.

If you are a Maryland-based business impacted by the Coronavirus with under 50 full- and part-time employees, or a Maryland manufacturer, check out the programs below to see if you qualify for assistance.

Maryland Small Business COVID-19 Emergency Relief Loan Fund – This $75 million loan fund (for for-profit businesses only) offers no interest or principal payments due for the first 12 months, then converts to a 36-month term loan of principal and interest payments, with an interest rate at 2% per annum. Learn more.

 Maryland Small Business COVID-19 Emergency Relief Grant Fund – This $50 million grant program for businesses and non-profits offers grant amounts up to $10,000, not to exceed 3 months of demonstrated cash operating expenses for the first quarter of 2020. Learn more.

 Maryland COVID-19 Emergency Relief Manufacturing Fund – This $5 million incentive program helps Maryland manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country. More details are expected to be announced by Friday, March 27, 2020.

✔️Information on the COVID-19 Layoff Aversion Fund can be found here.
 
✔️Information on how to file for Unemployment is available here. As a reminder, Maryland does not have a delay period before a person can apply for Unemployment Insurance.

Taxes Filing Deadline & Payments Extended
Comptroller Franchot and U.S. Secretary Treasury Steven Mnuchin just announced the Tax Day for state and federal income taxes is moved from April 15 to July 15. All taxpayers and businesses will have this additional time to FILE AND MAKE payments without interest or penalties. The agency has set up a dedicated email address — taxpayerrelief@marylandtaxes.gov — to assist businesses with extension-related questions. Business owners can also call the Comptroller’s Ombudsman at 410-260-4020.

If you prepaid sales & use taxes for March, you can get a refund. Call 410-260-4020 or email taxpayerrelief@marylandtaxes.gov.
* April 15 – Filing deadline for federal income tax or to file a federal extension.  No separate Maryland extension is necessary if you file a federal extension. 
* June 1 – Returns and payments are due for Maryland business-related taxes not collected in March, April and May including sales and use tax, withholding tax, and admissions & amusement tax, alcohol tax, tobacco tax, and motor fuel tax, as well as tire recycling fee and bay restoration fee returns.
* July 15 – Deadline for Maryland individual, corporate, pass through entity, and fiduciary income tax payments, as well as March quarterly estimated payments.
* October 15 – Deadline for filing Maryland income tax returns if a federal extension was filed.
OTHER BUSINESS RESOURCES

NFIB: https://www.nfib.com/content/analysis/coronavirus/latest-on-coronavirus-from-nfib/

U.S. Department of Labor – guidelines on preparing workplaces for COVID-19: https://www.osha.gov/Publications/OSHA3990.pdf

U.S. Department of Labor Occupational Safety and Health Administration (OSHA) – information for employers and employees: https://www.osha.gov/SLTC/covid-19/

U.S. Department of Labor – information on Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act: https://www.dol.gov/agencies/whd/pandemic

Small Business Administration – information on disaster assistance loans: https://content.govdelivery.com/accounts/USSBA/bulletins/280d49d

SmallBusiness.com – https://smallbusiness.com/planning/disaster/covid-19-guidance-for-businesses-and-employers-from-the-center-for-disease-control-prevention-2020/

Maryland Health Working Families Act – the Maryland Department of Labor’s Division of Labor and Industry enforces the Maryland Health Working Families Act, also known as safe and sick leave, which may be useful for employees who need to take off from work due to COVID-19. To learn more about the law, email ssl.assistance@maryland.gov or call 410-767-235.

Temporary or Permanent Layoffs – if a business experiences a temporary or permanent layoff, the MD Department of Labor’s Division of Unemployment Insurance’s Bulk Claim Services can open unemployment insurance claims for all affected employees. Businesses should contact a Claims Representative by emailing dluibulkclaims-dllr@maryland.gov or calling (410) 767-3252, or visiting: http://www.labor.maryland.gov/employment/unemployment.shtml

Maryland Insurance Administration has also put together an FAQ addressing insurance-related questions about coronavirus: https://insurance.maryland.gov/Pages/newscenter/NewsDetails.aspx?NR=2020251