RISCPA/RI BUSINESS FORUM NEWS RELEASE NOVEMBER 25, 2020

RISCPA/RI BUSINESS FORUM NEWS RELEASE NOVEMBER 25, 2020

HAPPY THANKSGIVING!!

NEWS AND UPDATES:

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•  Rhode Island will enter a two-week shutdown period “PAUSE” (Nov 30-Dec 13). Governor Raimondo announced an additional $100M for businesses impacted by the two week “Pause”; she stated the goal is “significant, quick and easy”. These funds are in addition to the $50M in Restore RI funding grant assistance, $45M Back to Work RI, Take it Outside and more. Additional details can be found at http://www.tax.ri.gov/

  • $50M to Rhode Island Businesses –
    • Businesses closed or severely limited during the pause are eligible for a grant up to $50,000 (grant will be based on revenues); applications will be available Friday at TAX.RI.GOV http://www.tax.ri.gov/
  • $50M directly to Rhode Islanders through UI (Additional $200 per week = $400) with supports for low-income Rhode Islanders

FREE TECHNICAL ASSISTANCE & TRAINING RESOURCES for COVID-impacted businesses:

  • RISCPA/RI Business Forum has partnered with RI Commerce Corporation to offer unprecedented assistance for your small business (including sole props and LLCs). Online training programs from organizations including Duffy Sweeney Ltd, Marcum, LLP, EANE, Diligentiam, Mind Your Money, LLC, 617-Patrick and more.
    • Legal guidance and consultations for compliance with federal programs, diversification and repositioning
    • Assistance with grant and loan applications
    • Business and strategic plans
    • Cash flow and credit management
    • Leveraging technology and digital solutions (ZOOM)
    • HR-updating your employee handbook, paid leave

Online training classes begin December 7th *One on one training assistance available immediately.

•  RESTORE RI Program has been expanded with businesses eligible for grants Up to $30K (double the original grant sizes). Applicants who already received grants with expenses not covered under their original grant application will be eligible to request additional funding under a streamlined process. To learn more, visit: https://commerceri.com/about-us/restore-ri/ or for training, assistance or additional resources, contact RISCPA at covid@riscpa.org or visit our BLOG.

•  Phase 3 Extended through November 27th: https://www.reopeningri.com/ (*see above for additional orders)

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TAX

REGISTER TODAY! 

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BREAKING NEWS – IRS CLARIFIES RULES ON PPP EXPENSES

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RISCPA/RI BUSINESS FORUM ANNOUNCES PARTNERSHIP WITH LT. GOVERNOR DAN MCKEE - OPERATION HOLIDAY CHEER SUPPORTING RHODE ISLAND MILITARY RELIEF FUND

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SBDC

Rhode Island Small Business Development Center is hosting a series of free events to help small businesses with their business and marketing needs. For more information, please CLICK HERE

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GA

RISCPA GOVERNMENT AFFAIRS

The House and Senate are in recess this week

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RIDT

All Division Advisories are available here: http://www.tax.ri.gov/Advisory/index.php

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COVID-19 Rhode Island Stats (as of 11/12/2020)

  • Total number of cases: 52,317
  • New cases: 845
  • People hospitalized: 357
  • Total Number of Deaths: 1,335
  • Total number of tests: 1,492,195
  • Positivity rate: 5.6%

 

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