The New York State COVID-19 Pandemic Small Business Recovery Grant Program was created to provide flexible grant assistance to currently viable small businesses, micro-businesses and for-profit independent arts and cultural organizations in the State of New York who have experienced economic hardship due to the COVID-19 pandemic. Applications open last Thursday for $800 million in state grants to help the smallest businesses recover from the pandemic – and the money may not be taxed by Albany.
The State Legislature is expected to approve a proposal from Gov. Andrew M. Cuomo to exempt the COVID-19 Pandemic Small Business Recovery Grant Program from state income tax. The grants vary between $5,000 and $50,000.
The money will serve as reimbursement of employee wages, rent and mortgage payments, taxes, utility bills and other operating expenses from the pandemic, between March 1, 2020 and April 1, 2021. Also reimbursable is the purchase of masks, gloves, face shields and other personal protective equipment and improvements to ventilation systems to slow the coronavirus’ spread during the period.
Read more on eligibility and apply here:
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