Catalina Island Chamber & Visitor Bureau Member Resources

U.S. Small Business Administration

The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to California small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). The disaster declaration makes SBA assistance available in the counties of Orange, Los Angeles, San Diego and more.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can't be paid because of the disaster's impact," said SBA Administrator, Jovita Carranza. SBA Customer Service Representatives will be available to answer questions about SBA's Economic Injury Disaster Loan program and explain the application process at (800)659-2955 or send an email.

Learn more information

Additional SBA resources for businesses and employers

SBA Disaster Loan Application Forms - English

SBA Disaster Loan Application Forms - Spanish


U.S. Chamber of Commerce Foundation

New Grant for Small Businesses

The U.S. Chamber of Commerce Foundation has announced a new Save Small Business Fund in partnership with Vistaprint and a coalition of supporting companies, foundations and donors. This fund is providing $5,000 in short-term relief to small businesses that have between three and 20 employees and operate in an economically vulnerable community.

To apply for these one-time supplemental cash grants, visit the Save Small Business Fund.


Federal & California State Tax

The Federal tax-filing deadline has been moved to July 15. IRS will waive penalties and interest on tax payments.

  • Americans who owe taxes can defer their payment until July 15, interest and penalty free, up to $1 million.
  • Treasury Secretary Steven Mnuchin encouraged tax payers to file their taxes to claim their tax refund.
  • The July 15 deadline applies to federal taxes.

The State of California tax-filing deadline has been moved to July 15. 

FTB is postponing until July 15 the filing and payment deadlines for all individuals and business entities for:

  • 2019 tax returns
  • 2019 tax return payments
  • 2020 1st and 2nd quarter estimate payments
  • 2020 LLC taxes and fees
  • 2020 Non-wage withholding payments
  • View Press Release  (link to FTB.ca.gov)

 

Summary of CARES Act, Third COVID-19 Response Package

3/27/20

 

CDBG Funding Opportunity - COVID-19

The Los Angeles County Board of Supervisors has approved the Small Business Recovery Loan Program that is available to the eligible business located in Los Angeles County Community Development Block Grant Participating Cities and the Los Angeles County unincorporated communities. This program is being administered by the Los Angeles County Development Authority (LACDA).

To be considered for eligibility, businesses must have 25 or fewer employees and have been operating for a minimum of 2 years.  The maximum loan amount is $20,000 with an interest rate of 2.44%.  The loan term is 5 years with no payments of principal or interest due for the first 12 months. All loans will be underwritten but no collateral is needed.   

This is a loan program, not a grant, and non-profit organizations are not eligible. 

For more information and to access the online application, please visit:  https://bizrecoveryloans.lacda.org

Business Recovery Loans

Loan Details - Interest rate is currently at 2.44% - 5 year term - Principal and interest payments deferred for the first 12 months - No collateral needed

Governor Newsom Signs Executive Order Providing Relief to California Small Businesses 

3/30/20 - Order provides 90-day extension in state and local taxes, including sales tax. Order extends licensing deadlines and requirements for a number of industries

SACRAMENTO – Today, Governor Gavin Newsom signed an executive order that will provide tax, regulatory and licensing extensions for businesses. 

The executive order allows the California Department of Tax and Fee Administration (CDTFA) to offer a 90-day extension for tax returns and tax payments for all businesses filing a return for less than $1 million in taxes. That means small businesses will have until the end of July to file their first-quarter returns.

Additionally, the order extends the statute of limitations to file a claim for refund by 60 days to accommodate tax and fee payers.

The executive order also includes extensions that impact state government workers, as well as consumers. For instance, the Department of Motor Vehicles will limit in-person transactions for the next 60 days, allowing instead for mail-in renewals. Additionally, the Department of Consumer Affairs will waive continuing education requirements for several professions, also for the next 60 days.

Further, the order will extend the Office of Administrative Law’s deadlines to review regular department proposed regulations. The order also extends by 60 days the time period to complete investigation of public safety officers based on allegations of misconduct. Finally, deadlines for trainings, investigations, and adverse actions for state workers will also be extended.

A copy of the Governor’s executive order can be found here, and the text of the order can be found here.

Property Tax

4/6/20 - From LA County Supervisor Janice Hahn

Below is updated information from the Los Angeles County Treasurer and Tax Collector (TTC) regarding property taxes, which are due for homeowners April 10th. If there are any hardships due to COVID-19, you will find reasons why people will qualify for a penalty exemption. The TTC is also modifying certain practices to assist taxpayers and you can find more information about it on the TTC website. 

Additionally, the department released two Public Service Announcements (English - https://youtu.be/VF0-rkPGNRY)  (Spanish - https://youtu.be/jAWc8AVMHcg)

COVID-19 Impact to Property Taxes Update


Visit California Update - 4/16/20

Dear Industry Partners,

Tourism Economics today updated the top-line projections for the coronavirus economic impact on the travel industry in the United States.
 
Projected tourism losses for the year increased 25 percent from the March outlook, to $519 billion. The economic fallout from the crisis now is projected to be nine times worse than the 9/11 terrorist attacks, up from seven times worse.
 
We need to stay updated on these projections and use them to push for stimulus on behalf of California tourism businesses, workers and marketing organizations.
 
As we make our case, we must also remind policymakers how tax revenue from tourism fuels local governments in California well beyond tourism marketing organizations.
 
Visit California last week analyzed data from the California State Controller to see just how much Transient Occupancy Taxes paid for local services across the state. We compared total TOT collections in each city as a percentage of general government and public safety spending.

  • On average, hotel taxes accounted for 12.4 percent of that city spending.
  • Across California, 68 cities count on TOT revenue to cover at least 20 percent of that spending.
  • Nearly every California city – 482 to be exact – levied TOT in the 2017-18 fiscal year that raised nearly $2.6 billion for municipal services. That’s money for police and fire and most of the general government functions cities take on.
  • TOT collections in 23 cities covered half of general government and public safety spending. Those include mostly small- to mid-sized cities, such as Bishop, Monterey, Palm Springs, Goleta and South Lake Tahoe. TOT covered more than 100 percent of general government and public safety spending in three cities, meaning the funds covered other services, too, like road maintenance, libraries and local parks.



These tax benefits will drop precipitously this year as tourism pauses and hotel occupancy declines, further adding to the economic burden local governments feel because of coronavirus. Good to keep in mind as we talk to local, state and federal elected officials about tourism’s critical role restarting the economy.
 
Also, John Lambeth at Civitas this week confirmed Visit California’s analysis that cities and counties cannot defer revenue from Tourism Improvement Districts. They may, however, work with owners’ associations to modify management district plans to use the TID revenue for coronavirus-related recovery needs.
 
“Thank You for Dreaming”
I’d like to encourage all of you to join in mass social sharing on Friday of Visit California’s video, “Thank You for Dreaming.” It features inspirational moments from across the Golden State, as well as the nation and world. Just like this pandemic, gratitude for heroic front-line workers in health care, food service and hospitality transcends borders. Visit California’s social posts are live and available for sharing now. Re-sharing the post as an industry and state together on the same day provides a sense of unity and creates greater impact than any of us could alone.
 
Sincerely,

Caroline Beteta, President & CEO, Visit California

U.S. Travel Association

3/19/20 Weekly Travel Data Report (web link)

3/17/20 Weekly Update (web link)

US Travel