Idaho Rebound Cash Grants for Small Businesses
IDAHO REBOUNDS: OUR PATH TO PROSPERITY
Idaho small businesses are the lifeblood of our communities and the backbone of our state’s economy. However, the ongoing COVID-19 outbreak has forced widespread closures of small businesses across the Gem State, threatening livelihoods, acute job losses, and imperiling the future of local establishments across our state.
The U.S. Treasury guidance allows the state to use Coronavirus Relief Fund (CRF) dollars for expenditures “related to the provision of grants to small businesses to reimburse the costs of business interruption caused by required closure.”
HOW DO I APPLY?
The Idaho State Tax Commission will handle applications. All applicants must first establish a secure Taxpayer Access Point (TAP) account to protect their personal and business information on submitted applications. Small businesses are encouraged to start this process as soon as possible – well in advance of the application waves opening.
If you are a tax professional without a TAP account and you intend to apply on behalf of a client, you will need to follow the registration steps below. Once your account is validated, you can request access to your client’s accounts. Click on the Advanced Use of TAP link below for instructions on requesting access. This process will take longer and requires your client’s permission. We suggest you request a TAP account soon.
Because we may receive more applications than available grants, applications will be handled in two waves:
- Eligible entities with one to 19 employees may apply starting at noon MT on May 11, 2020.
- Eligible entities with one to 50 employees may apply starting at noon MT on May 18, 2020 (subject to available funding).
To apply, follow these steps:
- Log in to your TAP account
- Skip to step 3 unless you are a third party filing on behalf of your authorized client
- Third parties, select your client from the client list
- Click the ‘Rebound Idaho Grant Application’ link in the “I Want To” section at the top right
- Complete and submit your application
- Total Program: $300 million (24% of total CRF award)
- Individual Business Grant: up to $10,000
- More than 30,000 Idaho small businesses supported
- Subject to qualification
- Targeted to those small businesses that did not receive the Paycheck Protection Program or received less than $10,000 through this program
- All individual grants will be reported on Transparent.Idaho.Gov
WHO IS ELIGIBLE TO APPLY?
Any eligible Idaho-domiciled company with an Employer Identification Number (EIN) can apply for a Rebound Idaho Small Business Grant, including:
- Sole proprietorships
- 501(c)(3) nonprofits
- 501(c)(6) organizations
- 501(c)(19) veterans organizations
- Tribal businesses (sec. 31(b)(2)(c) of Small Business Act)
Eligible entities with an EIN also must meet the following criteria:
- Have an active Idaho State Tax Commission withholding account established before January 1, 2020, or currently use the services of a Professional Employer Organization (PEO) with services beginning before January 1, 2020;Your withholding account is not for the purpose of paying household employees or as a home healthcare recipient;
- Had between one and 50 employees as of February 15, 2020;
- Have suffered a qualified business interruption;
- Did not receive an SBA-backed Paycheck Protection Program (PPP) loan or an Economic Injury Disaster Loan Emergency Advance, or received less than $10,000 in such funds;
- Did not receive and have not been awarded reimbursement under any other federal program for the expenses that will be reimbursed by this grant;
- Did not receive compensation from an insurance company for the covered business interruption due to COVID-19 or received less than $10,000 in insurance compensation;
- Your business is not a subsidiary of a business with more than 50 employees, is not part of a larger business enterprise with more than 50 employees and is not owned by a business with more than 50 employees.
- The business does not exist for the purpose of advancing partisan political activities or the business does not directly lobby federal or state officials, defined as having had a registered lobbyist at any point during 2020.
I’M IN BUSINESS BY MYSELF; AM I STILL ELIGIBLE FOR THESE GRANTS?
No, the grants are limited to those meeting all the eligibility criteria listed above, including the requirement for one to 50 employees.
Workers who are self-employed or independent contractors may seek assistance from the Pandemic Unemployment Assistance (PUA) program through the Idaho Department of Labor. Additional information is available here: https://labor.idaho.gov/dnn/Unemployment-Benefits/Pandemic-Unemployment-Assistance
WHAT ARE THE AWARD AMOUNTS?
Grants of up to $10,000 will be awarded to eligible applicants.
In cases where the eligible entity has received insurance compensation, an SBA-backed Paycheck Protection Program (PPP) loan, or other federal assistance less than $10,000, the grant will be the difference between the award amount and the insurance compensation or loan.
HOW DO YOU DEFINE IDAHO-DOMICILED BUSINESS?
The business has its headquarters in Idaho.
DO I NEED A TAP ACCOUNT IF I USE A PROFESSIONAL EMPLOYER ORGANIZATION TO MANAGE MY EMPLOYMENT TAXES?
Yes, you need a TAP account to submit an application even if you use a PEO to file your employment taxes.
HOW DO YOU DEFINE A HOUSEHOLD EMPLOYER?
The wages reported are for a housekeeper, nanny, or other domestic help.
HOW DO YOU DEFINE A HOME HEALTHCARE RECIPIENT?
The wages reported are for services received from a home healthcare provider.
WHAT IS A QUALIFIED BUSINESS INTERRUPTION?