owa Small Business Relief Grant Program and Tax Deferral is tomorrow, March 31st at 12:00pm

Posted: March 30, 2020

The deadline for the State of Iowa Small Business Relief Grant Program and Tax Deferral is tomorrow, March 31st at 12:00pm. If you need state assistance to help your business through this time, make sure you complete this application. Feel free to reach out with any questions. 

 The program offers grants ranging from $5,000-$25,000, in addition to offering a deferral of sales and use or withholding taxes due and waiver of penalty and interest to eligible businesses. To be eligible, businesses must have employed between 2-25 people prior to March 17, 2020 and be experiencing disruptions due to COVID-19. The state recommends having all necessary information collected before beginning the application process. Necessary information includes:

• 3-month income statement

* Standard business ownership information, including primary address, contact information, FEIN, withholding permit number,  sales tax permit number, etc. as applicable.

• Revenues – March 2019

• Revenues – March 2020 to date

• Balance Sheet (as of application date)

• Payroll prior to March 17, 2020

• Completed Business W-9 form

• Additional fields may include:

◦ Date of business establishment

◦ Description of Economic Impact Loss (loss of sales or revenue)

◦ Number of employees on March 1

◦ Number of employees working remotely as a result of the disaster

◦ Estimated loss of revenues March 15, 2020 – April 15, 2020

◦ Description of how funds will be utilized to maintain operations or reopen after the disaster

Learn more and apply here: https://www.iowaeconomicdevelopment.com/reliefgrants

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