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Governor Hogan Signs Executive Order to Provide Emergency Tax Relief to Small Businesses & Forgives $75 Million in Small Business Loans

Governor Larry Hogan today announced a series of additional COVID-19 health and economic relief initiatives to help struggling Maryland families and small businesses. He was joined by Commerce Secretary Kelly Schulz and Housing Secretary Kenneth Holt. “We continue to take constant actions on a daily basis to fight this virus from all directions, while Congress continues to fail at the one simple thing we have been asking them to do for the last eight months, which is to provide additional relief for our struggling families and small businesses,” said Governor Hogan. “Today, we are immediately taking additional state actions to help businesses struggling to hang on to avoid the prospect of more layoffs right before Christmas, or being forced to go out of business in a matter of weeks.” The State of Maryland has already announced $500 million in emergency economic relief. While stimulus negotiations in Congress remain gridlocked, the governor announced the following additional measures to help Marylanders weather this crisis: EMERGENCY TAX RELIEF FOR SMALL BUSINESSES. The governor has issued an executive order to prevent small businesses from facing major increases in their unemployment taxes. An employer’s 2021 tax rate will be calculated based on their non-pandemic experience […]

The post Governor Hogan Signs Executive Order to Provide Emergency Tax Relief to Small Businesses & Forgives $75 Million in Small Business Loans appeared first on Southern Maryland News Net.

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