Special Update: COVID-19

New York Wine & Grape Foundation

Special Update

April 1st, 2020

Dear Friends,

Good news on SBA assistance programs was shared w ith me today. Michael Kaiser from WineAmerica reported that the Treasury Department issued guidance on the CARES Act forgivable loans. There have been questions regarding the eligibility of wineries because of the agricultural aspect of the business. Based on this guidance it seems that ANY form of business can apply. The application process will begin formally on Friday. WineAmerica will be distributing more information before the end of this week. More details below courtesy of New York Farm Bureau.

WineAmerica also reported today that the The Alcohol and Tobacco Tax and Trade Bureau (TTB) recognizes that businesses that they regulate are being severely impacted by COVID-19. To assist these businesses during this period, they are postponing several filing and payment due dates for 90 days where the original due date falls on or after March 1, 2020, through July 1, 2020.

Specifically, they are:

Postponing tax payment due dates for wine, beer, distilled spirits, tobacco products, cigarette papers and tubes, firearms, and ammunition excise taxes.
Postponing filing due dates for excise tax returns.
Postponing filing due dates for submission of operational reports.
Postponing filing due dates for claims for credit or refund by producers.
Postponing filing due dates for claims by manufacturers of nonbeverage products.
Postponing due dates for submission of export documentation.
Considering emergency variations from regulatory requirements for affected businesses on a case-by-case basis.
Reviewing requests for relief from penalties based on reasonable cause.

Please contact Michael Kaiser with any questions.

I can not conclude this email without a lighthearted recommendation especially for a day that celebrates good nature humor. I highly recommended subscribing to Paul Grieco's terroir newsletter to red about his daily musing from the terroir bunker deep below New York City. His Instagram page also will give you a good laugh.

Sincerely,

Sam Filler, Executive Director

New York Wine & Grape Foundation

NY Farm Bureau CARES Act Updates

Farm Credit East to Host Webinar on Recently Passed Federal Legislation Regarding FFCRA, April 2

Join Farm Credit East on Thursday, April 2 at noon for a free, educational webinar regarding new payroll and tax provisions outlined in the newly passed Family First Coronavirus Response Act (FFCRA). Senior Tax Consultant, Dario Arezzo, will review some of the provisions outlined in FFCRA, including emergency leave and payroll tax credits. In addition, key tax provisions of the Coronavirus Aid, Relief and Economic Security (CARES) Act – including filing deadline changes, rebates, retirement accounts and more – will be covered. Click here to register.

Small Businesses, Including Farms, May Apply for Paycheck Protection Program Starting Friday, April 3

The Department of Treasury has announced that eligible small businesses will be able to apply to the CARES Act Paycheck Protection Program (PPP) starting this Friday, April 3, 2020. Independent contractors and the self-employed may apply starting on April 10, 2020. The PPP will be available through June 30, 2020. The PPP is a new guaranteed loan program, which includes $349 billion, for small businesses to keep their employees on the payroll. Eligible businesses include farms, nonprofits, veterans' organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors – with 500 or fewer employees. Applications are available directly through the Department of Treasury at this link. Businesses should review the Borrowers Information Sheet issued by the Department of Treasury. The Small Business Association (SBA) has also issued guidance, available here.

Businesses may apply for the PPP through any existing SBA lender or any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is currently participating. Businesses should contact their lenders to discuss the information contained in the Lenders Information Sheet and to verify that their local lender intends to participate in and support the PPP. Further information regarding this program and others in the CARES Act can be found here.

Join the Discussion

We invite you to our join our New York Wine Industry: COVID-19 Resources Facebook group dedicated to sharing resources relevant to the community. We will continue to monitor the ever-changing situation regarding increased safeguards at the local, state, and federal levels to help stem the spread of COVID-19. We hope that this online forum will serve as a place for our community to share information as it becomes available. .