Multi-state Task Force Convened to Reopen the Economy: Governor Phil Murphy announced that he is joining with the governors of New York, Connecticut, Rhode Island, Delaware and Pennsylvania to form a joint task force to create a plan to re-open the economy in the Northeast. The task force will be comprised of one health care expert, one economic development expert and the respective Chief of Staff from each state.
NJ Tax Filing Deadline Moves to July 15th: Governor Murphy indicates he will sign legislation into law to extend New Jersey’s income and corporate tax filing deadline to July 15th. The April 15th deadline for quarterly payments will be extended to July 15th but the second quarter will still be due June 15th. The bill passed the legislature on Monday and will be signed Tuesday.
Update - NJEDA’s Small Business Loan Program: Yesterday, the New Jersey Economic Development Authority (NJEDA) went live with accepting online applications for its Small Business Emergency Loan Assistance Program. Less than an hour later, it was oversubscribed – taking 290 applications for what would amount to be $23 million in loans ($10 million was available). Applicants may continue to file online applications in case more funding becomes available.
Murphy Expands Face Covering Requirements; Caps Transit Ridership: Over the weekend, Governor Murphy expanded statewide social distancing rules, mandating that all customers wear face coverings when walking into restaurants or bars to pick up takeout orders.
Governor Murphy also signed Executive Order No. 125, which directed NJ Transit and all private carriers to cut capacity on trains, buses, light rail and paratransit vehicles by 50%. He also mandated that riders wear face masks while on public transportation, unless medically unable to do so.
EO Prohibiting Termination of Internet & Voice Services: Governor Murphy signed Executive Order No. 126 which prohibits cable and communications providers from terminating internet and voice service due to nonpayment until 30 days after the current public health emergency has ended. The order also mandates that all service downgrades, service reductions, or late fees due to nonpayment are also prohibited. Any internet or voice service that was disconnected after March 16th due to nonpayment must be reconnected.
Latest NJ COVID-19 statistics: The number positive coronavirus test results in New Jersey has increased to a total of 64,584. The number of statewide coronavirus-related deaths is currently 2,443.
All NJ residents with questions or concerns about COVID-19 and resources available to them should visit: www.covid19.nj.gov
US Small Business Administration Loans: New Jersey’s small businesses and private non-profit organizations facing hardship due to the coronavirus outbreak are eligible to apply for Economic Injury Disaster Loans. These working capital loans are designed to help small and most non-profits meet their ordinary and financial business obligations during the pandemic.
Applicants may apply online and download applications at https://www.disasterloan.sba.gov/ela.
CARES Act: The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed in Congress are intended to assist small business owners with whatever needs they have right now. For more information on the small business owner’s guide to the CARES Act, click here.
Jobs and Assistance: A new online portal to provide information to impacted small business owners. The portal includes information on Executive Orders, regulations impacting small businesses and access to financial assistance from the US Small Business Administration (SBA).