Recovery Program for Small Businesses Continues to Grow
Date: October 3, 2011
Raleigh, N.C.— Since July, more than 400 businesses have signed up for a program launched by the NC Department of Revenue and the N.C. Small Business Commissioners Office aimed at helping those who are struggling with certain tax issues as a result of the weakened economy.
The Small Business Taxpayer Recovery Program offers penalty and fee waivers, as well as longer-term payment plans to companies that have fallen behind on sales, withholding and other trust taxes. Gov. Bev Perdue's top priority is creating and sustaining jobs. This program helps companies continue to operate and keep their employees working. It also follows the Governor's directive to ease regulatory burdens on businesses while making state government more efficient.
"We know this program is helping businesses get back on their feet and move forward as the economy recovers," said Secretary of Revenue David Hoyle. "Companies from the mountains to the coast are benefiting from the state's help during these tough economic times."
With a total cost savings of $3.3 million in fees and penalties, 413 businesses are participating in the program. Some of the participating business types include restaurants, automotive centers, healthcare services, landscaping, graphic designs and building companies.
Businesses with 200 or fewer employees qualify for the program and must agree to use the counseling services of the Small Business and Technology Development Center (SBTDC) or the NC Small Business Center Network (SBCN). Both organizations are available to assist with financial planning and other business needs. All services are confidential and protected from public information requests.
The program runs through June 2013.
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