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COVID-Related Tax Relief Act of 2020 Provides Corporate Tax Benefits

Dec 27, 2020 by Maureen Hourihan

The President signed the COVID-Related Tax Relief Act of 2020 (COVIDTRA) and government funding bill into law today. Many of the provisions of COVIDTRA will benefit Silverlode clients, including the following extensions and expansions:

  • Federal Empowerment Zones (FEZ) and Work Opportunity Tax Credit (WOTC) - Five year extension
  • Indian Employment Credit (IEC)...

    JobsOhio Reduces Requirements for R&D Center Grant

    Dec 07, 2020 by Dennis McAndrew

    JobsOhio recently announced significantly reduced job creation and investment requirements for its Research & Development Center Grant program. These lower requirements represent a tremendous opportunity for companies looking to invest in Ohio.

    This program is intended to facilitate new strategic corporate R&D centers in Ohio. JobsOhio is focused on developing and...

    Overlooked Indian Employment Tax Credit Opportunity

    Oct 30, 2020 by Julia Dietz

    The Federal Indian Employment tax credit is a lucrative and often overlooked business tax credit. The credit equals 20% of an employee’s wages and companies can claim a federal tax credit of up $4,000 per employee.

    Many companies who qualify for this credit do not capitalize upon this opportunity because of...

    Time Sensitive Federal Incentives Programs

    Sep 01, 2020 by Maureen Hourihan

    The deadline for filing 2019 federal taxes is fast approaching. Businesses that have qualified locations and employees may take advantage of the following federal tax credit programs:

    • Federal Empowerment Zone (FEZ) employment credit – Credit of up to $3,000 per eligible employee who lives and works in a zone.
    • Indian Employment Credit...

      NC Job Retention Grant for COVID-19 interruptions

      Aug 17, 2020 by Sarah Risher

      North Carolina's new Job Retention Grant is available for businesses and non-profits that have experienced economic loss due to the COVID-19 coronavirus pandemic. Recipients may receive grants up to $250,000. Applications are due September 1, 2020.

      For more information on this and other COVID-19 related programs, please contact your Silverlode incentives...