Small Business Loans, Relaxed Unemployment Claims, and Delayed Tax Filing Deadlines Included in Bills |
On March 21, the U.S. Treasury Department and the Internal Revenue Service announced that the 2019 personal and corporate income tax filing deadline was extended from April 15 to July 15.
Both bills allow the State NC Revenue to pass the same three-month extension for personal, corporate and franchise income tax returns. The bill would also waive the accrual of interest from April 15 to July 15.
Schorr Johnson, director of public affairs for NC Revenue, said he “will not charge penalties for those who file and pay their taxes after April 15, as long as they file and pay their taxes by the deadline set. day of July 15 “.
Both House bills were unanimously recommended, moving on to House Rules and Operations, which are scheduled to meet at 3 p.m. today.
Senate Bill COVID-19 and House Bill 1034 share some commonalities on the small business lending initiative.
Golden Leaf would distribute the state-funded emergency loans, which could be as high as $ 50,000 and require no payment for up to six months with a loan term of up to 66 months. The interest rate would start at 4% and increase to a maximum of 5.5%.
Golden Leaf was chosen because it already has a similar disaster loan program. He works with the NC Rural Center to provide funding to support loans made by nonprofit lenders through https://ncrapidrecovery.org/. The goal is to allocate resources based on demand and enable a single pipeline for businesses.