The Contra Costa County Workforce Development Board has provided a hotline for small businesses affected by COVID-19. Contact Contra Costa County Assistance for the Business Community is available at (833) 320-1919.
Exclude PPP Loans from State Taxes: Governor Newsom signed AB 1577 (Burke), which conforms state law to federal law by excluding from gross income Paycheck Protection Program loans that were forgiven through the federal CARES Act and subsequent amendments in the Paycheck Protection Program and Health Care Enhancement Act of 2020.
Main Street Hiring Tax Credit: Governor Newsom signed SB 1447 (Bradford, Caballero, and Cervantes), authorizing a $100 million hiring tax credit program for qualified small businesses. The credit will be equal to $1,000 per qualified employee, up to $100,000 for each small business employer.
Tax Relief for Small Businesses: 90-day extension to small businesses in state and local taxes and an extension of all licensing deadlines and requirements for several industries.
Waived Minimum Franchise Tax for New Businesses: Estimated $100 million allocated in the 2020-21 Budget to waive the $800 minimum franchise tax for the first year of business creation and remove a barrier to entrepreneurship and job creation.