Page updated: 1/11/2020 at 8:00AM
The New York State Brewers Association (NYSBA) is committed to the health, safety, and well-being of all New York State Breweries. The craft beer industry is STRONG. Together, we will get through this.
New York State has established the COVID-19 Emotional Support Hotline at 1-844-863-9314
Guidance on Outdoor Expansion of Licensed Premises in Response
Guidance on Restrictions for Licensees and To-Go & Delivery Sales
Guidance on Live Music: Presented by BMI and CSRA
How To Bring Live Music Back In a COVID-19 Environment
If you are going to apply for these loans we urge you not to wait since there is only a limited amount of money available. Please reach out to your lender as soon as possible.
Please note: The interest rate has changed on the PPP Loan from 0.5% to 1%.
[Updated PPP Loan Info provided by Smyle & Associates]
Congress Provides Additional Funding and Guidelines for Paycheck Protection Program in Latest Stimulus Package
On December 27, 2020, President Trump signed into law the latest COVID-19 relief package, providing $900 billion in much-needed aid to individuals and businesses during the ongoing coronavirus pandemic. A crucial part of this legislation is the more than $284 billion allotted for a new round of Paycheck Protection Program (PPP) funding. This current round of PPP funding extends through March 31, 2021, or until the funding is exhausted.
Of the more than $284 billion in additional funding allocated to the PPP, $35 billion is set aside for first-time borrowers, $15 billion of which will be set aside for smaller, first-time borrowers with 10 or fewer employees, or loans less than $250,000 in low-income or moderate-income neighborhoods. In addition, $25 billion of the new PPP funding will be set aside for second draw PPP loans for smaller borrowers with ten or fewer employees, or loans less than $250,000 in low-income or moderate-income communities.
Small businesses in need of additional relief can trust Smyle & Associates, LLC to evaluate the revised Paycheck Protection Program rules and assess your eligibility to apply for additional PPP funding and work with you individually to help get through these tough and changing times. Just as we saw with the last iteration, the SBA will be issuing final regulations which may be slightly different than what Congress has put in place.
Notable Changes to the Paycheck Protection Program
The new legislation has modified important components of PPP criteria. The PPP provisions place several restrictions on eligibility including, with few exceptions, prohibiting publicly traded companies, companies created in China or having significant operations in China, and entities primarily engaged in political or lobbying activities from obtaining PPP loans. A business must have been in operation on Feb 15, 2020 to apply for a PPP loan and the relief package also allows small businesses and nonprofit entities that exhausted their first PPP loan to obtain a second PPP loan. An entity is eligible for a second draw loan if it employs no more than 300 employees and can demonstrate at least a 25% reduction in gross receipts in the first, second, third or fourth quarter of 2020 relative to the same quarter in 2019. Borrowers may receive a second draw loan up to 2.5 times their average monthly payroll costs, or for entities in the accommodation and food service industry assigned to NAICS code 72, loans of up 3.5 times their average monthly payroll costs. In both cases, no loan can exceed $2 million, a substantial decrease from the $10 million limit applicable to the initial PPP loans.
A key change to the Paycheck Protection Program is the expansion of expenses for which the PPP loan can be used. The expanded program identifies additional permitted uses of loan funds, including:
Tax Treatment of PPP Loans
The law also provides clarification of the tax treatment of PPP loan forgiveness. It clarifies that gross income does not include any amount that would otherwise arise from the forgiveness of a PPP loan and that deductions are allowed for otherwise deductible expenses paid with the proceeds of a PPP loan that is forgiven. This provision overturns the current IRS position, Notice 2020-32, which ruled that although PPP loan forgiveness would not generate taxable income, no deduction was allowed under the Internal Revenue Code for an expense that was otherwise deductible if the payment of the expense resulted in forgiveness of a covered loan pursuant to the CARES Act.
DOWNLOADABLE RESOURCES
NYS breweries can temporarily ship beer within state lines via UPS or FedEx. USPS does not allow it.
It is important to note that UPS and FedEx may have conflicting internal policies about delivering beer. UPS has a beer shipping page for you to reference.
Quarterly tax payment is due Friday, March 20th, as scheduled. However, there will be no interest or penalties for late payments.
Any licensee that expands its premises pursuant to the immediately foregoing paragraph shall, within 5 business days of doing, so submit an updated diagram to the SLA at temporaryalterations@sla.ny.gov – please include your license serial number in the subject line. Failure to do so shall subject a licensee to disciplinary charges for illegal extension of premises.
The Governor has issued a mandate that all non-essential businesses must close. As the guidance reads now, food and beverage manufacturing is still considered essential. Read the full guidance here.
Essential manufacturing including
• food processing, including all foods and beverages
• chemicals
• medical equipment/instruments
• pharmaceuticals
• safety and sanitary products
• telecommunications
• microelectronics/semi-conductor
• agriculture/farms
• paper products
PPE Gear for your brewery workers – A&P Master Images
Courtesy of NYSBA Allied Members.
Guide to Payroll Protection Program – U.S. Chamber of Commerce
Small Business Assitance – M&T Bank
NYS Quarterly and Annual tax relief form
Paycheck Protection Program (PPP) information
SBA Small Business Guidance & Loan Resources
Economic Injury Disaster Loans One Sheet
NYC Small Business Services Loans and Grants
NYC Employee Retention Grant Program
Mortgage Deferment – Bond, Schoeneck, & King
Financial Resources – Marcum Accountants & Advisors
Free Templates & Forms – Fisher Phillips
Emergency Sick Leave Law – Fisher Phillips
COVID-19 Financial Data Bank – Fisher Phillips
Guidance to Department of Financial Services (“DFS”)
NYS Unemployment Insurance FAQ
Unemployment Insurance and the CARES Act information
Insurance Information for Breweries – Cool Insuring Agency
Covid-19 & Your Business – Gilroy, Kernan & Gilroy
Business Interruption Insurance – Paris-Kirwan Associates Inc.
Unemployment Insurance Benefits Under The CARES Act – Bond, Schoeneck, & King
Policy Update – AmTrust Financial Services
Policy Update – MEMIC Employer’s Mutual
Policy Update – Paris-Kirwan Associates Inc.
WC Rating Board: New Classification for Idled Employees
DMV guidance on expired licenses
SLA: Restrictions for Licensees in Response to COVID-19 Outbreak
CDC Opening Guidance for Restaurants and Bars
World Health Organization: Covid-19 Updates and Guidance
World Health Organization: Q&A On Coronavirus
Center for Disease Control & Prevention: Covid-19 Updates
OSHA: Guidance on preparing the workplace for Covid-19
NYS Department of Health: Covid-19 State UpdatesDMV guidance on expired licenses
BA: Coronavirus resource center
BA: Brewery Shutdown Saftey Guidance
ProBrewer: Community Covid-19 Crisis Center
Brewbound: National Covid-19 News and Updates
National Restaurant Association: Coronavirus Informations and Resources
NYS Farm Bureau: Covid-19 Alert
Marketing your Brewery During the Pandemic
Marketing Tips Infographic – Site Seeker Solutions
