MICHIGAN SMALL BUSINESS ADMINISTRATION
Resource
In addition to traditional SBA funding programs, the CARES Act and subsequent legislation established several new temporary programs to address the COVID-19 outbreak.
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION (MEDC)
Resource
MEDC provides a list of resources and information for Michigan businesses during the COVID-19 outbreak. The page is continuously updated as resources become available.
DISTRICT HEALTH DEPARTMENT 2
Resource
DHD2 hosts resources for businesses looking for guidance about MIOSHA requirements.
U.S. DEPARTMENT OF TREASURY
Resource
Covid-19 Economic Relief: Latest Programs and Updates
WORK OPPORTUNITY TAX CREDIT PROGRAM
Tax Credit
The Work Opportunity Tax Credit is a federal credit available to private-for-profit employers who hire from specific targeted groups of people that have in the past experienced difficulty in securing employment. For the first year of employment, WOTC allows maximum credits of $4,800 to $9,600 for disabled veterans, $4,000 for long-term recipients of Temporary Assistance to Needy Families (TANF), and $2,400 for all other target groups. There is an additional $5,000 credit for long-term TANF recipients who are employed for a second year. The maximum credit amounts for tax-exempt organizations can vary from $1,560 to $6,240. The credit, or any unused portion of the credit, can be carried back one year or forward 20 years from the year in which the employer claims the credit.