Governor Allows More Businesses To Reopen
As of the date of this newsletter (May 26th), many businesses throughout Florida may operate with restrictions. Some counties, like Miami-Dade and Broward, have imposed additional restrictions.
- Restaurants can operate at 50% indoor capacity. Tables must be at least 6 feet apart, with no more than 10 customers per table. Surfaces touched frequently by customers and employees must be disinfected frequently. Bar counters must remain closed.
- Retail stores may operate at 50% occupancy.
- Barbers, hair salons, and nail salons may open with restrictions.
- Gyms and fitness centers may open with restrictions.
Which businesses cannot re-open?
- Bars and nightclubs (statewide)
- Gyms and fitness centers in Miami-Dade and Broward counties (unless located in a housing development)
Are masks required for employees and customers?
In general, no. The Governor is not requiring employees or customers to wear masks or face coverings. However, cities and counties may have their own requirements. For example, Miami-Dade and Broward counties have mask requirements for employees and customers.
For more information about restrictions on businesses re-opening, including specific requirements in Miami-Dade and Broward counties, visit FUBA’s coronavirus resources page by clicking here.
If you have any questions about whether your business may re-open, call the FUBA offices at 800-262-4483 or email us at firstname.lastname@example.org.
PPP Loan Forgiveness Update
The Small Business Administration has released the form and instructions for businesses to use when applying for forgiveness of their Paycheck Protection Program (PPP) loan.
If you spend your PPP loan on approved expenses (payroll, rent, utility payments, and mortgage interest) during the 8 weeks after getting the loan, you can apply to have your entire loan amount forgiven by the bank.
While the forgiveness application is complicated, it does provide some important clarifications for businesses:
- Because the date you get your loan may not line up with your company’s scheduled pay periods or the date bills are due, the SBA has clarified that you can get forgiveness for costs incurred during the 8-week period, not just paid during the 8 weeks.
- If you pay your payroll biweekly or more frequently, you can start your 8-week period on the first day of the first pay period after you get your loan (instead of the date you get the loan).
- Forgiveness amounts can be reduced 2 ways: if you have fewer employees than before the loan or if you have reduced the wages/salary of any employees. The forgiveness application explains in detail how to calculate this reduction in forgiveness.
- You won’t be penalized for a reduction in employees if you have made a good faith written offer to rehire a laid-off employee and that employee refuses to return to work.
The SBA’s loan forgiveness application and instructions can be found here.
For questions about PPP loan forgiveness, you can call FUBA at 800-262-4483. More information will be posted to our coronavirus resources page here.
Free Webinar On Returning To Work In The Pandemic
SafetyFlorida, a government agency that provides free workplace safety consultations and resources to Florida small businesses, is putting on a free webinar for small businesses called Reopening America Amidst COVID-19 on June 11th from 1 pm to 3 pm EST.
Topics covered include minimizing exposure in the workplace; signs, symptoms, and testing for the coronavirus; strategies to control the spread of the virus; and understanding guidance from the government.
To register, visit usfsafetyflorida.com or call SafetyFlorida at 866-273-1105.
No Sales Tax On Hurricane Supplies May 29 – June 4
To help Floridians prepare for hurricane season, certain hurricane supplies like batteries, flashlights, generators, and coolers will be exempt from state sales tax from May 29 through June 4.
The Florida Department of Revenue has published a bulletin that lists all the items that will be tax-free. You can download a copy here.
Deadline For Corporations & LLC’s Extended To June 30th
All Florida corporations and limited liability companies (LLC’s) must file an annual report with the State of Florida to maintain an active status. Usually, these reports are due by May 1st of each year. However, because of the coronavirus pandemic, the deadline for filing annual reports has been extended to June 30, 2020.
The Annual Report must be filed online at the state’s official website at sunbiz.org. For corporations, the filing fee is $150. For LLC’s, the filing fee is $138.75. If the annual report is not filed by midnight on June 30th, the state will assess a mandatory $400 late fee.
Beware of private companies that try to make you think you need to use them to file your annual report. A company called Annual Report Solutions is sending out forms to businesses and charging $233.75 to file an annual report. This is almost $100 more than it actually costs! While these forms look like government forms, if you read the disclaimer on the back, it says that this is a private company and is not affiliated with the State of Florida or their official website sunbiz.org. The State of Florida does not mail out forms to file annual reports!
Read Issue [PDF]