Good morning everyone,

Here is a round up of the latest news:

Governor Newsom announced a reopening roadmap with stages, and restaurants are part of Stage 2, but details are pending.....Bay Area counties extend the shelter in place throughout May with some expanded access to outdoor activities......San Francisco employees who have funds in SF City Option account(s) can access their funds for whatever they need......Free COVID-19 testing in San Francisco for those showing symptoms or are high risk.

Also reminder: Tax Filing and Business Reporting Extension
Quarterly estimated tax payments of the Gross Receipts Tax, Payroll Expense Tax, Commer- cial Rents Tax, and Homelessness Gross Re- ceipts Tax that would otherwise be due on April 30, 2020, are waived for taxpayers or combined groups that had combined San Francisco gross receipts in calendar year 2019 of $10,000,000 or less. These quarterly estimated tax liabilities must instead be paid along with annual tax pay- ments for tax year 2020, which will generally be due by March 1, 2021. These bills are typically mailed in late March, but businesses with 2019 gross receipts of $10,000,000 or less will receive a letter instead of a bill. The due date for license fees has been extended to June 30, 2020. See: https://sftreasurer.org/covid19.

JCBD Staff will be in Japantown today checking in on merchants. If you have any question/concerns, please do let us know. You can also email us at info@jtowncbd.org.

Please continue to stay safe!
JCBD Staff

Employee Retention Credit vs. the Paycheck Protection Program

While everyone has been focused on the Paycheck Protection Program, the lesser-known Employee Retention Credit (ERC), which was also in the CARES Act, is scarcely mentioned. The refundable tax credit is 50% of up to $10,000 in wages paid by an employer whose business has been fully or partially suspended by government order, and its gross receipts are below 50% of the comparable quarter in 2019.

Wages paid after March 12, 2020, and before January 1, 2021, are eligible for the credit. Wages taken into account are not limited to cash payments, but also include a portion of the cost of employer-provided health care.

For more information, visit the IRS Employee Retention Tax Credit FAQ here.

Small Business Emergency Loan Fund (SF HELP)
The Small Business Emergency Loan Fund will provide small businesses up to $50,000 in zero interest loans. The loans will have a flexible repayment schedule and the terms will be determined on a case-by-case basis, based upon each borrower’s ability to repay.

Updated list on Essential Businesses that are Open in Japantown
Please help us spread the word and share on your social media/website.

Please note the changes in operating hours for the Japan Center Garage. Please share this information with your staff and customers.