Is your cooperative entitled to a refund for retaining employees? Find out.

Did you have payroll expenses last year? Will you have payroll expenses first or second quarter of 2021? Was your company struggling during the pandemic and is it continuing to struggle? If so, it literally pays to be sure you are receiving all the COVID relief you are eligible for.

Which companies qualify?

  • Any sole proprietor, limited liability company (LLC), S-Corporation or C-Corporation is eligible, if they meet the additional criteria to qualify.
  • Any company with less than 500 employees (Full-Time Equivalent employees, FTE) as of December 2020 may participate in the program and apply for the ERTC. (Previously, only business owners with less 100 employees could participate.)
  • In order to claim the Credit, a business must have experienced a decline in gross receipts by more than 20% in any quarter of 2020, compared to the same quarter in 2019.

Read more on:

How to apply for the Employee Retention Credit and get a refund for your business from Wegner CPAs’s latest Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid,
Relief, and Economic Security Act (N-2021-20)

Also don’t forget to watch our Co-op Clinic webinar, Recording: Get Your Co-Op Ready For Tax Season 2021 (also available in Spanish)

Need more help? Contact our Co-op Clinic, which offers support from experts and worker-owners like you.

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