{"id":4240,"date":"2022-05-12T05:43:50","date_gmt":"2022-05-12T05:43:50","guid":{"rendered":"https:\/\/gw.brandhouse.marketing\/?p=4240"},"modified":"2024-06-17T20:40:30","modified_gmt":"2024-06-17T20:40:30","slug":"north-carolina-business-recovery-grant-phase-2-now-open","status":"publish","type":"post","link":"https:\/\/greerwalker.com\/north-carolina-business-recovery-grant-phase-2-now-open\/","title":{"rendered":"North Carolina Business Recovery Grant Phase 2 Now Open"},"content":{"rendered":"<p>The announcement of Phase 2 of this grant also includes the ability for companies that previously received federal or NC financial hardship incentives to participate. Phase 1 of the program (which closed a few months ago) prevented companies which had received a PPP loan, NC Job Retention Grant, or EIDL advance from qualifying for this Job Retention Grant program. This limitation has been lifted with Phase 2.<\/p>\n<p>The NC Business Recovery Grant program is made up of two types of grants, a hospitality grant which covers businesses such as restaurants, hotels, and bars, and the reimbursement grant which covers other business sectors. To qualify, businesses must also be able to support a greater than 20% decline in gross receipts when comparing March 2019-February 2020 vs. March 2020-Feb 2021. Companies would do this by comparing gross receipts as reported on its NC sales tax returns. If sales tax returns weren\u2019t filed for all those periods, there is now an option to rely on information from the company\u2019s business income tax filings.<\/p>\n<p>Applicants have until June 1st to apply. For more information or to apply, <a href=\"https:\/\/www.ncdor.gov\/business-recovery-grant#1\" target=\"_blanck\" rel=\"nofollow noopener\">visit the NCDOR website<\/a>.<\/p>\n<hr style=\"margin:0.8em 0 2.20em 0;border-top:0px solid #fff;border-right:0px solid #fff;border-left:0px solid #fff;border-bottom:1px solid #AAAAAA\">\n<p class=\"disclaimer_text\" >The information contained herein is general in nature and based on authoritative guidance that is subject to change. Neither GreerWalker LLP nor GreerWalker Corporate Finance LLC (collectively, \u201cGreerWalker\u201d) guarantee the accuracy or completeness of any information and are not responsible for any errors or omissions, or for results obtained by others as a result of reliance upon such information. GreerWalker assumes no obligation to inform the reader of any changes in tax laws, regulations, accounting standards, or other factors that could affect information contained herein. This publication does not, and is not intended to provide legal, tax or accounting advice, and readers should consult their advisors concerning the application of tax laws or accounting guidance to their particular situation. Any tax analysis in this publication is not advice and is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The announcement of Phase 2 of this grant also includes the ability for companies that previously received federal or NC financial hardship incentives to participate. Phase 1 of the program (which closed a few months ago) prevented companies which had received a PPP loan, NC Job Retention Grant, or EIDL advance from qualifying for this [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_opengraph-image":"","_yoast_wpseo_opengraph-image-id":"","_yoast_wpseo_twitter-image":"","_yoast_wpseo_twitter-image-id":"","_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[26,13,10],"tags":[168,170,169,167],"class_list":["post-4240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article","category-business","category-tax-alert","tag-business-recovery-grant","tag-north-carolina-business","tag-north-carolina-business-grant","tag-north-carolina-business-recovery-grant"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ 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