News

Silverlode is closely monitoring COVID-19 opportunities for our corporate, public sector, and non-profit clients. Please contact us if you would like us to identify state, federal, and other opportunities to help your company or organization reduce and recover costs during the COVID-19 pandemic.

The federal Empowerment Zone Employment Credit has been retroactively renewed and extended through the end of 2020. This corporate income tax credit for employers located in certain federally designated zones can yield up to $3,000 in credit per qualified employee annually and had last sunset at the end of 2017.

For more information on how these changes could benefit your business, please contact your Silverlode Tax Consultant or contact@silverlodeconsulting.com.

The federal Disaster Employee Retention Credit has been retroactively renewed and expanded to include an additional 20 disasters occurring in 2018 and 2019. This corporate income tax credit for businesses affected by a federally designated disaster who have retained employees can yield up to $2,400 per qualified employee and had last sunset at the end of 2017.

For more information on how these changes could benefit your business, please contact your Silverlode Tax Consultant or contact@silverlodeconsulting.com.

The federal Indian Employment Credit has been retroactively renewed and extended for tax years beginning before 2020. This corporate income tax credit for employers hiring enrolled members of an Indian tribe or their spouses can yield up to $4,000 per qualified employee annually and had last sunset at the end of 2017.

For more information on how these changes could benefit your business, please contact your Silverlode Tax Consultant or contact@silverlodeconsulting.com.

The Ohio Craft Brewers Association reported Ohio's craft breweries had a $967 million economic impact in 2018. Silverlode conducted this study which shows $124 million of annual state and local taxes generated by the industry.