Sales Tax Grace Period
Restaurants, bars and other hospitality businesses impacted by the temporary closure order have a 30-day grace period in paying sales and use tax. During this time the Minnesota Department of Revenue will not assess penalties or interest. This means that affected businesses with a monthly Sales and Use Tax payment due March 20, 2020 will have until April 20 to make that payment. These customers should still file their return by March 20. Find out more at the Minnesota Department of Revenue website.
If your employment has been impacted by the COVID-19, you can apply for unemployment benefits. Please use DEED’s online system to apply for benefits and request payments - https://www.uimn.org/..
The Walz-Flanagan administration and the Minnesota Legislature are actively considering a variety of measures to assist workers and businesses affected by the COVID-19 pandemic. Updates will be made regularly at mn.gov/deed -- please check back regularly.
Emergency Loan Program for MN Small Businesses
Executive Order 20-15 directs DEED to create a Small Business Emergency Loan Program by making available $30 million from special revenue funds. These dollars will be used by DEED’s lender network to make loans of between $2,500 and $35,000 for qualifying small businesses. The loans will be 50% forgivable, and offered at a 0% interest rate. If other financing becomes available to small businesses that received an emergency loan, such as federal funding, the emergency loan must be repaid. DEED expects loan applications will available later this week through their lender network. Minnesota small businesses should send questions about this emergency loan program to ELP@state.mn.us or visit https://mn.gov/deed/newscenter/covid/ for the latest information.