TN Releases Detail on Small Business Relief Payments

Date: June 10, 2020

The state Department of Revenue has released a fact sheet on the Tennessee Business Relief Program. Under the program, the Department of Revenue will issue $200 million in relief payments to over 28,000 small businesses throughout the state to help offset losses stemming from the COVID-19 closures. Click here to learn more.

According to the fact sheet, the following types of businesses are eligible under the program:

   ▪ Amusement parks
   ▪ Bowling centers and arcades
   ▪ Amusement, sports, and recreational industries

   ▪ Promoters of performing arts, sports, and similar events
   ▪ Agents and managers of artists, athletes, and entertainers
   ▪ Independent artists, writers, and performers
   ▪ Barbershops
   ▪ Beauty shops
   ▪ Nail salons
   ▪ Tattoo parlors, spas, and other personal care services
   ▪ Gyms and fitness centers
   ▪ Restaurants
   ▪ Bars
   ▪ Hotels and other travel accommodations
   ▪ Theaters, auditoriums, performing arts centers and similar facilities
   ▪ Museums, zoos, and other similar attractions

In addition, the following businesses are eligible if their sales were reduced by at least 25%, as shown on their April sales tax returns (filed in May):

   ▪ Bookstores
   ▪ Department stores
   ▪ Office supply, stationery, and gift stores
   ▪ Used merchandise stores
   ▪ Other miscellaneous stores
   ▪ Eligibility and Payment Information
   ▪ Furniture stores
   ▪ Home furnishing stores
   ▪ Clothing stores
   ▪ Shoe stores
   ▪ Jewelry, luggage, and leather goods stores
   ▪ Sporting goods, hobby, and musical instrument store

This program focuses on small businesses that collect sales tax or pay business tax and were required to suspend or significantly modify their operations under Executive Order. The Department of Revenue is proactively identifying eligible businesses based on North American Industry Classification System (NAICS) codes. Eligible businesses must have gross sales of $10 million or less.

Payment amounts will be based on a business’s total gross sales and will range between $2,500 and $30,000 per business.

The department will calculate gross sales for the business as a whole rather than by individual location.

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