The sales tax remittance grace period has been extended again.
This time to June 22nd.
It’s a big move that was announced by Governor Andrew Cuomo. New York’s businesses have been devastated by the coronavirus pandemic.
“Small, independent businesses deserve the exact same opportunities to reclaim and pursue their livelihoods as big-box mega-stores,” said Greg Biryla, the state director of the National Federation of Independent Business to Spectrum News.
The pandemic and closure of non-essential business devastated the economy. Small business owners are feeling the pinch.
“Even with several iterations of federal relief programs, cashflow remains the most pressing immediate challenge for small businesses that have been forced to close or are otherwise seeing their operations and sales dramatically impacted by COVID-19,” he added.