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Be Prepared for New Paycheck Protection Program Funding
Congressional leaders are reportedly close to an agreement on new legislation providing additional funding for the Paycheck Protection Program (“PPP”). Eligible businesses who have not yet obtained a Payroll Protection Program loan should be prepared for the program to re-open soon. Initial PPP funding was rapidly depleted, and many eligible businesses were unable to participate in the unprecedented program.
Please compile your documents together so you can provide to your lender, as needed, to support your company’s loan request, including but not limited to payroll records. For those companies that did receive the PPP funding, make sure your company is implementing best practices to utilize and document the money in compliance with the applicable rules.
Grady Gammage, Jr. Offers Insights to ULI Arizona
Click below to read Grady Gammage, Jr.’s recent insights published by ULI Arizona!
Update on Current Commercial Tenant Protections: Rent Payment and Eviction Actions
We have an important update regarding current commercial landlord/tenant issues and small business evictions. On April 6, 2020, Gov Ducey issued Executive Order 2020-21, “Prohibiting Small Business Evictions”. Click Here to read a copy of the Order.
The Order suspends, until May 31, certain commercial evictions or similar actions against tenants unable to pay rent due to financial hardship caused by the COVID-19 Pandemic unless a court determines suspension of eviction is not appropriate. It also requires landlords, tenants and lenders to take or consider taking certain actions.
Tenants may see this Order as a rent holiday.
DOL and NLRB Issue New Rules on Joint Employment
By:
Julie A. Pace (602.397.9871)
David A. Selden (602.256.4490)
Heidi Nunn-Gilman (602.256.4455)
The issue of “joint employment” under labor and employment laws has received much attention in the last few years, including attempts to hold franchisors responsible for franchisee’s employees. Both the Department of Labor and the National Labor Relations Board issued new regulations in 2020 to define when a company may be considered a joint employer and, therefore, jointly liable for violations of employment and labor laws.
Department of Labor Joint Employer Standard
The Department of Labor has issued a number of new regulations in the past few months, including the new minimum salary rate for salaried exempt employees.
Recent Tax Developments Affecting Arizona Taxpayers
1. Arizona’s change in the statute of limitations for assessment of individual or withholding tax liabilities.
In 2019, the Arizona legislature enacted changes to the assessment of tax when no income and withholding tax is filed. Previously, the rule for all taxes was that there was no statute of limitations if no tax return was filed – regardless of the type of tax.
While that rule remains in place for all other taxes (such as the Transaction Privilege Tax), it is no longer true in many cases where income tax or withholding tax returns that should have been filed are not filed.
