Immediate tax relief for some California small businesses. In connection with COVID-19, the CA Dept. of Tax and Fee Administration (CDTFA) is offering tax relief for eligible businesses impacted by the virus restrictions. Business owners who file CDTFA returns for less than $1 million will be granted automatic 3-month extensions on payments and returns originally due between Dec. 1, 2020, and April 30, 2021. Small businesses having under $5 million in taxable annual sales or larger businesses in sectors hit by operational restrictions of the virus can apply for a 12-month, interest free payment plan to defer payment of up to $50,000 of sales and use tax liability. Contact your Linkenheimer CPA with questions.
Immediate Tax Relief For Some California Small Businesses
By Linkenheimer LLP|2020-12-16T17:45:36+00:00December 16th, 2020|business, ca, california, New Tax Laws, small business|0 Comments
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