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As we navigate local changes we know that our members and business community are seeking answers for their own plans. It is our commitment to get you the best information we have in a timely manner to assist in your questions. Below please find 3 trustful business resources:
From the United States Chamber of Commerce:
From the U.S. Small Business Administration:
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Business Resources:
Payroll Tax Credit Programs
The Federal Government has included various tax credits in the previously passed stimulus packages, including the Payroll Tax Credit Program.
We touch base on this program in the latest SBA Update Webinar with Rebecca Lobina, which can be viewed at anytime by clicking here. The files mentioned in the webinar discussion are linked below.Form 7200 - only use this form for an advance on payroll withholding.For IRS Answers to Frequently Asked Questions about the payroll tax credit program:
EFMLA and Reuired Paid Sick Time
We recommend that you speak with a trained CPA or trusted financial adviser to ensure you are proceeding with the best options for your business. If you do not have a CPA already, we encourage you to speak with one of the Chamber Member firms by following this link.
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Paycheck Protection Program
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits.
Click here for an overview of the Paycheck Protection Program
More information for BORROWERS can be found here
Paycheck Protection Program (FAQ)This program is distributed locally by SBA Approved lenders. We suggest that you speak with your bank before reaching out to a new lender. Below please find information about which Maryville Financial Institutions are SBA Lenders:Bank MidwestUS Bank -
Employee Retention Tax Credit (ERTC)
The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.
This program is continuing to be developed. Please join our Chamber on Thursday, Apr. 9th at Noon for a Legislative Update Webinar, on Facebook live, to address changes to the CARES Act. The IRS will issue further guidance and manage the ERTC process. Please visit their website for developing information.
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Unemployment Resources: Employers
Below are several links and videos from Missouri Department of Labor to help employers make informed decisions during this difficult period:
FILING A CONTRIBUTION & WAGE REPORT
SHARED WORK PROGRAM - a layoff aversion program.
FILING A MASS CLAIM - expedite filing multiple claims for your employees.
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Unemployment Resources: Employees
Below is a video on unemployment basics.
Job Center Resources
All Job Centers are currently closed to in-person services. Customers are directed to call 1-888-728-JOBS (5627) or go online to jobs.mo.gov to access resources until further notice.
Missouri Job Centers are offering reemployment services to those laid off due to COVID-19. Those services include:
Assistance with job searching as well as resume and interview preparation.
Job Centers also offer training to those that qualify.
Support for unemployment insurance claimants will continue to be provided by telephone or online. Job Centers are prioritizing services to meet the increased unemployment requests.
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Business Check List:
EMPLOYEE HEALTH GUIDELINES - Train employees in regards to good hygiene safeguards, ensure they are following these guidelines.
PUBLIC SPACES CLEANING GUIDELINES - Show your staff the proper cleaning regimen for public spaces.
DOCUMENTING ECONOMIC INJURY - Keep up with journals on your business during this time. Be sure to document/ log all economic injury to your business, including: lost business, changes in staffing needs, effects of government-recommended business practice; anything you are doing different due to COVID-19.
Stay up to date with the Governor and the City of Maryville government-issued recommendation.
Missouri Governor Michael L. Parsons
The City of Maryville
-Latest Emergency Order