GARNETT BUSINESSES ARE ENCOURAGE TO APPLY NOW.
The City of Garnett and Anderson County were both awarded $132,000 in Community Development Block Grant - Coronavirus (CDBG-CV) funds by Governor Laura Kelly on June 2, 2020. A portion of those funds are to be used to administer the grant. Anderson County and Garnett contracted with Southeast Kansas Regional Planning Commission to assist with administering the funds. Each entity has $126,000 to grant to businesses in Garnett and Anderson County.
These grant funds are to assist small businesses who employ persons from low to medium income households.
To date, we have had nine (9) qualifying businesses apply for the grant. Five (5) of those businesses are in the county and four (4) are located in the City of Garnett. The funding for the County at this time has been exhausted, however, the City of Garnett still has funds to administer.
The grant funds are to be used for working capital such as employee wages, rent, mortgage, and to purchase up to 60 days inventory needed to reopen the business.
The following requirements must be met to qualify for the City funds:
If you would like more information or to apply you can go to https://www.simplygarnett.com/grants-and-loans.html to download the application or contact Julie Turnipseed at 785-448-5496, extension 5, or email email@example.com.
These funds are available until allocated,
There might be some confusion about a little-known tax credit, the Employee Retention Tax Credit or ERTC. That’s a shame because it is potentially more powerful and useful than the Paycheck Protection Program, which saved over 128,000 jobs in Johnson County alone last year! Here are the details:
Part of the confusion comes from the fact that the credits are to your payroll deduction accounts (FICA and Medicare) and so many employers are thinking, perhaps, that they would only get 70% of their contributions. These are fully refundable tax credits, however, so it really doesn’t matter how much has been set aside for your FICA contributions – the amount is based upon payroll itself, up to $10,000 per employee, per quarter (70% of $10,000 brings us to the $7,000 per quarter max.). If the credits are more than your withholding deposits, you still get the full amount of the credits.
Want more common sense answers on what may seem complicated? HERE IT IS
CDBG-CV Funds Still Available for Garnett Businesses
ACDA Office - Inside Garnett City Hall
131 West 5th Avenue, P.O. Box H
Garnett, Kansas 66032 USA
GREAT NEWS: EMPLOYEE RETENTION TAX CREDIT