So what does the Stimulus Package (CARES Work) Mean for your Startup?
So what does the Stimulus Package (CARES Work) Mean for your Startup? The fresh new Coronavirus Help, Relief, and you may Financial Protection Work (“CARES Operate”) is actually passed and you can signed toward legislation to your . This article summarizes about three parts of the Operate that will be very highly relevant to startups: this new Paycheck Coverage System, tax credits, and you can wage income tax deferral. CARES Act – Salary Security System The CARES Operate licensed $349 mil during the financing for eligible smaller businesses. A lot more capital towards PPP try recognized, hence number is actually increased to $659 million because of the Salary Security System and you will Medical care Improvement Work. Part of the reason for the applying (called the fresh “Paycheck Security System”)…