The fresh new Coronavirus Support, Rescue, and you will Monetary Safeguards Act (“CARES Operate”) try passed and you may finalized on rules towards . This information summarizes around three parts of new Work that are extremely relevant to startups: the latest Income Safety Program, tax credits, and you can salary tax deferral.

CARES Operate – Paycheck Security System

The new CARES Operate licensed $349 billion during the money for qualified small businesses. Extra investment to your PPP try approved, and that amount try increased to $659 mil by Salary Safeguards Program and you will Medical care Improvement Operate. Area of the purpose of the applying (also known as new “Salary Shelter Program”) will be to permit small businesses to retain the newest group and you may rehire one they have already needed to lay-off (just click here if the COVID-19 keeps affected their fundraising).

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