The deadline is still several months away, but area business owners are strongly encouraged to learn more about cash grants to offset COVID-related impacts and apply soon if those grants apply to them.
The COVID-19 Retail Storefront Property Tax Relief Act is designed to help businesses affected during the 2020 and 2021 tax years by sending business owners a portion of property taxes accrued on retail storefront property.
Several for-profit business categories operating as of July 1, 2019, and March 1, 2020, and currently active are eligible for this form of relief, but they also need to have reported at least $10,000 in annual revenue in tax year 2019 followed by less gross revenue in either tax year 2020 or 2021 than they had in tax year 2019. Several other categories are not eligible:
*grocery stores and pharmacies
*hardware stores or home improvement businesses
*retail liquor stores
*manufacturers and food processors
*schools such as pre-kindergarten, kindergarten through grade 12, post-secondary, higher education, technical education and training
*hospitals and health care providers including, but not limited to, physicians, surgeons, psychologists and psychoanalysts, but not including personal services providers such as massage therapists and chiropractors
*property management and real estate services, including owners and operators of short-term rental properties.
*professional services, including, but not limited to, accounting, insurance, legal, financial services and firms, information technology, engineering, and architecture
*agriculture and aquaculture producers, including farms, ranches, and fisheries, but not including their retail storefronts used to conduct retail sales to customers
*hosts or operators of vacation or short-term rental units
*passive businesses, investment companies, and investors who file a schedule E on their federal income tax returns
*financial businesses primarily engaged in the business of lending, such as banks, finance companies and factoring companies
*cable companies, telephone companies, utilities, and other similar businesses
*energy production, generation, and distribution companies
The program is funded by the American Rescue Plan Act. The application deadline is April 15.
If you need additional help, call Emporia Main Street at 620-340-6430 or your accountant.
Click here for basic program information from the Kansas Department of Revenue.
Click here for the application.
