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On April 30, 2020, the Internal Revenue Service issued Notice 2020-32 which provides guidance regarding the deductibility for Federal income tax purposes of certain otherwise deductible expenses incurred in a taxpayer’s trade or business when the taxpayer receives a loan pursuant to the Paycheck Protection Program (“PPP”) as authorized by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Specifically, Notice 2020-32 clarifies that no deduction is allowed under the Intern ...

THURSDAY - May 7, 2020 | 4:00 p.m. via ZOOM Webinar  This webinar will focus on practical considerations for getting back to business, including:  Employment Law – Return to Work Issues/Making Your Business Safety Compliant  Navigating The Intersection of SBA and CARES ACT Relief  Taxes – Filing, Declaring Losses, Deferring Payment of Payroll and Property Taxes, Saving Cash and Obtaining Forgiveness Under the Paycheck Protection Program  Government Relief – Relief Certificatio ...

Tuesday - May 12, 2020 | 11:30 a.m. via ZOOM Webinar  This webinar will focus on practical considerations for getting back to business, including:  Employment Law – Return to Work Issues/Making Your Business Safety Compliant  Navigating The Intersection of SBA and CARES ACT Relief  Taxes – Filing, Declaring Losses, Deferring Payment of Payroll and Property Taxes, Saving Cash and Obtaining Forgiveness Under the Paycheck Protection Program  Government Relief – Relief Certificati ...

On April 21, 2020, Governor Ned Lamont issued Executive Order 7CC which speaks to the applicability of Executive Order 7S.  Order 7S, Section 7 provided that a municipality’s legislative body and budget-making authority has authority to approve certain financial transactions, expenditures, or decisions, without in-person approval of residents or taxpayers.  Order 7CC, Section 1 clarifies Order 7S, Section 7, by stating that the following actions may also be authorized by a majority vote withou ...

There is a connection between the two. . .  In 2019, without yet being aware of the soon to arrive Coronavirus pandemic, the United States Congress amended Chapter 11 of the Bankruptcy Code in order to make the bankruptcy reorganization “tool” more expedient, accessible, efficient and practical.  The Small Business Reorganization Act (SBRA) became effective on February 19, 2020.  That effective date of this “new and improved” small business bankruptcy reorganization law was quickly followed by ...

In response to the COVID-19 pandemic and the resulting medical-supply shortage, the Secretary of Health and Human Services (“HHS”) published a Declaration under the Public Readiness and Emergency Preparedness (“PREP”) Act immunizing entities from liability related to the manufacture, testing, development, distribution, and use of certain drugs, biologics and devices used to diagnose and/or treat COVID-19.  The purpose of the PREP Act is to allow companies and individuals to quickly respond to t ...

On March 13, 2020, Governor Lamont signed House Bill 5518. This is the first bill signed by Governor Lamont of the 2020 Regular Session.  House Bill 5518 is a bipartisan bond package that includes $30 million and $17 million for fiscal years 2020 and 2021, respectively, allocated to the Department of Economic and Community Development (“DECD”).  Grants and loans will be provided by the State’s brownfield program for the assessment and remediation of contaminated properties. Pending approval fro ...

1. Landlord–Tenant: Evictions and Foreclosures  On April 23, 2020, the Connecticut state judicial branch ordered an immediate stay of the service of all issued executions on evictions and ejectments through June 1, 2020, which extends the previous stay order by one month.  The judicial branch also ordered that all foreclosure sales scheduled for June and through July 18, 2020 are cancelled in order to prevent a potential gathering of individuals at the auction site. The court, on its own, open ...

While we are all facing increased challenges during this time of economic turmoil due to the Coronavirus/Covid-19 pandemic, we also know that at some time – ideally in the very near future – we will be returning to “regular order” and more normalcy in our operations.  Are you ready?  Have you considered how you will go about re-opening? 

The Greater New Britain Chamber of Commerce, in conjunction with Updike, Kelly & Spellacy, P.C. is presenting an exciting webinar to help you and your business prepare to meet opening day.

Governor Lamont has signed several Executive Orders and taken other actions intended to implement the State’s Nursing Home Surge Plan (“NHSP”) and to ensure adequate funding for COVID-19-related long-term care services.  This includes the establishment of COVID Recovery Facilities and Alternate COVID Recovery Facilities dedicated to the care of residents diagnosed with COVID-19.  Executive Order 7Y, signed by the Governor on April 11, 2020, authorizes the following statutory modifications and d ...