RESOURCES FOR OREM BUSINESSES AFFECTED BY

COVID-19

The City of Orem is committed to providing you with accurate information and resources as Utah transitions into a new phase of battling COVID-19. Orem is currently in the “Moderate Level of Transmission”, consistent with the state’s Utah Leads Together Plan IV. The plan has been in effect since June 17, 2020, and is designed to protect lives and livelihoods. The most up-to-date information will likely always be found on coronavirus.utah.gov/business. We are doing all we can to provide you with timely information and tools to help your business during this difficult time. Please reach out if you have questions, we are here to help.
 
Sincerely,
 
Kathi Lewis
Economic Development Division Manager- kmlewis@orem.org – 801-229-7079
Nate Prescott
Economic Development Analyst – nmprescott@orem.org – 801-229-7114

 

Current COVID-19 Funding Programs

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Small businesses can offset their current payroll tax liabilities by up to $7,000 per employee per quarter. This credit of up to $28,000 per employee for 2021 is available to small businesses who have seen their revenues decline, or even been temporarily shuttered, due to COVID.

The ERC is now available for all four quarters of 2021.  The amount of the maximum tax credit has been increased to $7,000 per employee per quarter, and the level of qualifying business disruption has been reduced so that a 20% decline in gross receipts during a single quarter will make a business eligible, for a maximum benefit of $28,000 for the full year.

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The American Rescue Plan extends through September 2021 the availability of Paid Leave Credits for small and midsize businesses that offer paid leave to employees who may take leave due to illness, quarantine, or caregiving. Businesses can take dollar-for-dollar tax credits equal to wages of up to $5,000 if they offer paid leave to employees who are sick or quarantining.

Although the law no longer requires businesses with 500 or fewer employees to offer paid leave as part of the continuing COVID-relief efforts, if a business does provide paid leave to its employees then it can claim these dollar-for-dollar tax credits for wages paid through September 30, 2021. These credits can be claimed against payroll taxes on a quarterly basis.

OFFICE LINE

1.800.555.6789

EMERGENCY

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WORKING HOURS

9:00am – 6:00pm