This website was developed and implemented during the height of the COVID-19 pandemic, to assist local community business and individuals with resources. Information on this website will be updated as needed as it pertains to COVID-19.
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
Many of our businesses are trying to understand the differences between the available loan programs from the CARES Act. For this reason, CDF has worked with our lending institutions and accounting firms to provide this general breakdown between the loan programs. Your business accountant and bankers should be used to determine which loan is best for your business. WATCH A FACEBOOK LIVE VIDEO DISCUSSION ABOUT THESE LOANS
VIEW ALL CDF MEMBER BANKS: cdf.ms/banking | VIEW ALL CDF MEMBER ACCOUNTING FIRMS: cdf.ms/accounting
CDF Member, BKD CPA's and Advisors is holding multiple webinars to help businesses cope with COVID-19
---ARCHIVED / "Tax Considerations Surrounding COVID-19" | 3/26/20
---"SBA Loans, Payroll Tax Credits & General Business Planning Considerations" | 4/2/20 | 2:00 p.m. to 3:00 p.m.
Clinton, Miss. – Mississippi Department of Revenue Response to Requests for Relief
The Mississippi Department of Revenue is aware of the new pressures on the business community and state governments in responding to the COVID 19 pandemic. We are committed to doing what we can to help provide relief and certainty to our taxpayers.
Extensions of Filing Deadlines -- While the federal government and many other states have postponed their income tax filing and payment deadlines to July 15, Mississippi has currently elected to move its filing deadline to May 15 in order to meet our statutory requirements of a balanced budget as of the fiscal year end, which is June 30. The Department issued this extension with legislative input and input from our governor’s office. We cannot move this deadline out past the fiscal year end without express direction from the legislature and the governor because this will create a $500,000,000 deficit for the current fiscal year... READ FULL PRESS RELEASE: cdf.ms/covidextensions
