Mattoon, ILL--As small businesses and restaurants across the state continue to feel the impact of the ongoing COVID-19 health crisis, State Senator Dale Righter (R-Mattoon) is sharing information about relief efforts available to Illinois' small business community.
As many bars and restaurants across the state have been forced to limit available services, or in some instances close down completely, the Illinois Department of Revenue has announced a deferral of sales tax payments for more than 24,000 bars and restaurants.
Bars and restaurants that incurred less than $75,000 in sales tax liabilities last year will not be charged penalties or interest on late payments due between March and May. However, qualified taxpayers must still file their sales tax return even if they are unable to make a payment, and will be required to pay their sales tax liabilities in four installments beginning May 20.
"These are unprecedented times and there is so much uncertainty for our small business community," said Senator Righter. "As Illinois employers continue to confront new daily challenges, we need to work to provide as much relief and assistance as possible."
Additionally, Illinois has now been approved for disaster assistance loans for small businesses facing challenges amid the growing health crisis. Eligible businesses can apply for up to $2 million in low-interest loans available through the U.S. Small Business Administration. To learn more, visit https://disasterloan.sba.gov.<https://disasterloan.sba.gov/>