Immediate tax relief for some California small businesses
In connection with COVID-19, the CA Dept. of Tax and Fee Administration (CDTFA) is offering tax relief for eligible businesses impacted by the virus restrictions. Business owners who file CDTFA returns for less than $1 million will be granted automatic 3-month extensions on payments and returns originally due between Dec. 1, 2020, and April 30, 2021. Small businesses having under $5 million in taxable annual sales or larger businesses in sectors hit by operational restrictions of the virus can apply for a 12-month, interest free payment plan to defer payment of up to $50,000 of sales and use tax liability.