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COVID-19 Bulletin: Tax Credits Available for COVID-Related Costs 

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November 3, 2022

Small businesses can now apply for a new tax credit to help offset COVID-19 costs. The $250 million COVID-19 Capital Costs Tax Credit Program will cover up to 50% of eligible expenses, for a maximum benefit of $25,000.  

Eligible expenses must have been incurred between January 1, 2021, and December 31, 2022, and include: 

  • Supplies for disinfecting or otherwise stopping transmission 
  • Replacing lost perishable goods 
  • Sneeze guards 
  • Sanitizer 
  • Air purifiers 
  • Signage 
  • Barriers for social distancing 
  • Contactless pay equipment and software 
  • Outdoor space expansion 
  • Remote work capability 

Eligible small businesses have under 100 employees and gross receipts less than $2.5 million.  

Due to the limited appropriation for this program, businesses are encouraged to apply as soon as possible here.  

 

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