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Newsom announces temporary tax relief for California businesses
Posted on December 4, 2020 by Sonoma Valley Sun
California will provide temporary tax relief for eligible businesses impacted by COVID-19 restrictions, the Governor’s office announced this week.
The temporary tax relief offers:
An automatic three-month income tax extension for taxpayers filing less than $1 million in sales tax.
An extension of the availability of existing interest and penalty-free payment agreements to companies with up to $5 million in taxable sales.
Expanded interest-free payment options for larger businesses particularly affected by significant restrictions on operations based on COVID-19 transmissions.
Additionally, the state announced a $500 million COVID Relief Grant program .
