Dear Jim:
Last night, the Connecticut Department of Revenue Services granted small businesses an automatic extension of filing and payment deadlines for state sales and room and occupancy taxes.
March and April monthly and quarterly payments are now due May 31, 2020.
Businesses must have $150,000 or less in annual sales tax or occupancy tax liability—based on the 2019 calendar year—to qualify for the extension.
I’ve also been hearing from many of you looking for information and guidance about the small business emergency relief programs included in the federal CARES Act.
We expect detailed guidance from the appropriate federal agencies this week and will share that with you as soon as it is available.
In the meantime, we have information about current and pending loan programs on our website.
Stay safe,
Joe
Joseph Brennan | President & CEO | CBIA | 350 Church St. | Hartford, CT 06103
860.244.1922 (o) | 860.944.8784 (c) | joe.brennan@cbia.com | cbia.com | @CBIANews