Financial Relief to Qualified Small Businesses with
Main Street Small Business Tax Credit
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Taxpayers can use the credit against income taxes, or can make an irrevocable election to apply the credit against sales and use taxes.
To qualify for the credit, taxpayers (employers) must:
- Have 100 or fewer employees on December 31, 2019 (all employees, including part-time employees).
- Have experienced a 50% decrease in gross receipts from April to June, 2020, compared to the gross receipts in April to June 2019.
- Apply for a tentative credit reservation from CDTFA during the period of December 1, 2020 through January 15, 2021.
- Not be required or authorized to be included in a combined report.
The credits are allocated by CDTFA on a first-come, first-served basis until the credits are exhausted at $100 million.
All taxpayers (including those electing to use the credit to offset qualified sales and use taxes) must reduce any deduction otherwise allowed for qualified wages by the amount of the credit allowed. Learn more here.
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ICU Capacity Falls Below 15% and Updated Health Officer Order
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As COVID-19 cases and hospitalizations surge and ICU capacity declines in Los Angeles County and across the Southern California Region, the Los Angeles County Health Officer Order has been modified to align with the State Regional Stay Home Order to prevent crowding and mingling among non-household members and overwhelming our healthcare system.
The Order prohibits private gatherings of any size, closes sector operations, and requires 100% masking and physical distancing. The State Regional Stay at Home Order is similar to the existing County Safer at Home Health Offer with additional sector closings.
The following sectors are required to close or remain closed for all operations:
- Indoor and outdoor playgrounds
- Indoor recreational facilities
- Hair salons and barbershops
- Personal care services
- Museums, zoos, and aquariums
- Movie theaters
- Wineries
- Bars, breweries, and distilleries
- Family entertainment centers
- Cardrooms and satellite wagering
- Limited services as defined by the state
- Live audience sports
- Amusement parks
The following sectors will have additional modifications in addition to 100% masking and physical distancing:
- Outdoor recreational facilities: Allow outdoor operation only without any food, drink or alcohol sales. Additionally, overnight stays for recreational visits at campgrounds will not be permitted.
- Retail: Allow indoor operation at 20% capacity with entrance metering and no eating or drinking in the stores. Additionally, special hours should be instituted for seniors and others with chronic conditions or compromised immune systems.
- Shopping centers: Allow indoor operation at 20% capacity with entrance metering and no eating or drinking in the stores and all common areas closed. Additionally, special hours should be instituted for seniors and others with chronic conditions or compromised immune systems.
- Hotels and lodging: Allow to open for critical infrastructure support only.
- Restaurants: Allow only for take-out, pick-up, or delivery.
- Offices: Allow remote only except for critical infrastructure sectors where remote working is not possible.
- Places of worship and political expression: Allow outdoor services only.
- Entertainment production including professional sports: Allow operation without live audiences. Additionally, testing protocol and “bubbles” are highly encouraged.
Everyone in California must adhere to State Health Officer Orders. Counties may be more restrictive than State mandates, but not less restrictive.
The State announced a Regional Stay Home Order will go into effect and would remain in effect for at least three weeks in California regions where ICU capacity falls below 15%. The State advises the Order goes into effect Sunday, December 6 at 11:59 p.m. and remains in effect for at least 3 weeks.
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Keep LA County Dining Grant Program
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In an effort to assist restaurants affected by the COVID-19 restrictions, Los Angeles County launched the Keep L.A. County Dining Grant Program. Applications are now open.
The Keep L.A. County Dining Grant will provide $30,000 to use as working capital for employee payroll expenses, capital to continue operations, payment of outstanding business expenses, and adaptive business practices needed to remain open. Preference will be given to restaurants that provided outdoor dining as of November 24, 2020. Learn more here.
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LA County Launches Holiday COVID-19 Home Test Collection Pilot
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LA County launched a new COVID-19 home test collection program today, which allows certain County residents to do free testing from the comfort of their own homes.
The home test collection program will run from December 1, 2020 through January 15, 2021. It aims to help address the current surge in demand for testing and reduce the spread of COVID-19 during the holiday season when people may risk exposure.
Individuals can have testing kits mailed to their home if they:
- Have COVID-19 symptoms; or
- Were recently in close contact with someone who has COVID-19 or is suspected of having it; or
- Are a senior or person with disabilities who feel they were exposed to COVID-19, but are unable to go to a testing site.
The temporary program will use Picture COVID-19, an FDA-approved home collection test developed by Fulgent Genetics, Inc. For information on how to register, individuals should go to the county COVID-19 testing site. If they qualify, Fulgent Genetics will ship a collection kit to their home within two days.
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Incoming Senate Features 8 New Members
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A new two-year legislative session begins on Monday, December 7, which means 120 members will take the oath of office. As always after an election, there will be many familiar faces as incumbents were returned to office, but there are plenty of new or somewhat new faces as well.
In the 40-member California State Senate, eight new members will be taking office. Read more here.
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The Executive Office of the Board of Supervisors unveiled the official photo featuring an all-women Board of Supervisors for the first time since the Board’s inception in 1852.
The official Board photo features newly elected Supervisor Holly J. Mitchell who will represent the Second District, a position previously held by Mark Ridley-Thomas for 12 years.
It also features Supervisor Hilda L. Solis front and center as she will lead the Board in the coming year as Chair. “This is history – or, better yet, herstory,” said Chair of the Board Hilda L. Solis, Supervisor for the First District. “We’ve shattered a glass ceiling right here in Los Angeles County. For girls and women everywhere, this demonstrates that no dream is too big. At a time when we are facing so much uncertainty, I’m thankful for colleagues who are committed to investing in communities most impacted by the COVID-19 pandemic, fighting homelessness, creating affordable housing, assisting women-owned small businesses, and bolstering our safety net programs..." Read more here.
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The Chamber Rallies Support for Restaurants, Breweries and Catering Services
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California Commission Approves $2 Billion in Infrastructure Projects
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The California Transportation Commission has approved $2 billion for 56 new projects, some of which aim to improve the movement of goods and reduce congestion.
These projects are supported by three programs that were created by the Road Repair and Accountability Act of 2017. The legislation, also known as Senate Bill 1, raised the tax for diesel by 20 cents to 36 cents per gallon and for gasoline by 12 cents to 41.7 cents per gallon.
The commission’s scope of funding responsibility covers highway, rail, transit, bicycle and pedestrian infrastructure needs. Read more here.
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Office Depot Rewards Program
As a member of Torrance Area Chamber of Commerce, you are entitled to savings at Office Depot store. Discounts vary on items and services, but they do add up and you can save a significant amount annually on 175 most frequently needed items. Just another benefit of the membership! To enjoy this, Contact Us Here.
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