New bill would give restaurants rejected from RRF grant program a tax break - San Francisco Business Times

Lawmakers are aiming to provide restaurants locked out of the Restaurant Revitalization Fund with a special tax credit.

The legislation would create a special tax credit available to any business that applied for the RRF but did not get a grant — roughly 175,000 businesses. Business must also have experienced average operating losses of at least 30% in 2020 and 2021 as compared to 2019 or losses of at least 50% in either calendar years 2020 or 2021 as compared to 2019. In addition, a business must have been in operation prior to March 14, 2020, and have paid payroll tax in at least two quarters in 2021.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Largest San Francisco Office Leases - San Francisco Business TimesThis List includes San Francisco office leases signed in 2022. Information was obtained from CBRE, Cushman & Wakefield, JLL, Kidder Matthews, Colliers, and SFBT research.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »

Mass layoffs will result in surge in business startups, new opportunities - San Francisco Business TimesThe mass layoffs spreading across the economy will result in a surge of new business startups, but this time the opportunities are different and plentiful.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »

First Republic Bank opening new offices as big banks shutter more branches - San Francisco Business TimesIn banking news, FirstRepublic CEO Mike Roffler said the San Francisco bank expects a lot out of its newest market
Source: SFBusinessTimes - 🏆 78. / 68 Read more »