Coolidge Wall Co., L.P.A.
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Posts tagged "coronavirus"

Ohio Begins to Go Back to Work

On Monday, April 27, 2020, Ohio Governor DeWine announced Ohio's plan for nonessential business to return to normal operations. While Ohio's Stay at Home Order remains in place and gatherings of 10 people or more are generally not permitted, the Governor announced that certain businesses can open on the following timetable:

Small Business Administration Provides Further Guidance on Key Payroll Protection Program Questions

The SBA FAQ PUBLISHED April 6, 2020, (https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequenty-Asked-Questions.pdf) clarifies several issues for which many small businesses and their advisors have been seeking guidance.

UPDATED: Federal and State Courts in Ohio Extend Deadlines and Change Procedures

We previously reported that Ohio's General Assembly passed emergency COVID-19 legislation that "tolled" or postponed all statutory deadlines in the State of Ohio that otherwise would have expired between March 9, 2020 and July 30, 2020. That post can be found here

New Bankruptcy Law with CARES Act Revisions Increases Help For Small Businesses

Congress has expanded the application of the Small Business Reorganization Act of 2019 (SBRA) to make available the streamlined and, therefore, less expensive form of business reorganization to more businesses.

Ohio Health Director Continues "Stay at Home Order" Through May 1, 2020

On Thursday, April 2, 2020, Governor DeWine announced an Amended "Stay at Home" Order issued by Ohio Health Director Amy Acton, MD, MPH (the "Amended Order"). The Amended Order extends the original Order's two-week restrictions on the ability of individuals in Ohio to leave their residences, this time through May 1, 2020 at 11:59 PM.

New IRS Guidance Requires Employees to Provide Information to Request Paid Leave

New guidance from the IRS, issued the evening of March 31, 2020, answers some of the questions left open by recent DOL publications on the issue of Emergency Paid Sick Leave (EPSL) and Expanded FMLA leave under the Families First Coronavirus Response Act (FFCRA).

SBA Affiliation Rules as They Pertain to the CARES Act

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security ("CARES") Act. Our separate post outlines the Paycheck Protection Program ("PPP"), which is administered by the U.S. Small Business Administration (SBA), and is a distinct component of the Act. Inherent to the PPP (and other SBA loans modified by the Act), is the question of "affiliation" as it pertains to businesses, their owners, and their parent and subsidiary entities and affiliations. Importantly, the SBA's size and affiliation rules are broader than most common understandings of the affiliation concept in other aspects of the law and will play a pivotal role in determining whether or not a particular business may be eligible for a PPP (or other SBA) loan under the CARES Act.

Coolidge Wall Outlines Key Features of the Paycheck Protection Program For Your Business

The Paycheck Protection Program provides approximately $350 billion for a temporary supplement to the SBA's current loan program through which SBA-approved banks are authorized to make loans to qualifying eligible entities. The PPP has three key components:

Stay at Home Order Enforcement Underway in Montgomery County, Ohio

The Dayton Daily News reported this morning (April 1, 2020) that 270 Montgomery County sites are being investigated for failing to comply with Ohio's Stay at Home Order.

CARES Act Makes Paycheck Protection Program Loans Available For Businesses -- Application Released

UPDATE: On March 31, 2020, the Small Business Administration and the U.S. Treasury released the Application Form for the new SBA PPP Loan forgiveness program, which we have included at the end of this article.