Town of St Pauls|St Pauls,NC|News

Small Business Center News - RCC to host free webinars

August 25, 2020

We all know of multiple businesses that have been affected by the COVID-19 pandemic. As part of the CARES Act, we have four specialized counselors who can assist these businesses with marketing plans, branding, loan package preparation, capital and refinancing searche...

North Carolina's Undercount in the 2020 Census -State faces losing $74 billion over the next decade

August 19, 2020

State faces losing $74 billion over the next decade The 2020 Census is at a critical point. North Carolina is severely under counted with only a few weeks left. Our rural areas are especially behind. Our state--the 4th fastest growing and 9th largest--will lose $7.4 b...

CONSUMER CONFIDENCE REPORT/ ROBESON COUNTY

April 30, 2020

CONSUMER CONFIDENCE REPORT/ ST. PAULS

Consumer Confidence Report (CCR) Certification Form

Water System Name:________________ _Saint Pauls/Robeson County ___________

Water System No.: NC 50-78-001 Report Year: 2019 Population Served: 254

The Co...

2019 CONSUMER CONFIDENCE REPORT/ST. PAULS

April 30, 2020

CONSUMER CONFIDENCE/ ROBESON COUNTY

Consumer Confidence Report (CCR) Certification Form

Water System Name:_________________ Town of Saint Paul...

FEDERAL FORGIVENESS LOANS FOR COVID-19

March 31, 2020

Inside the CARES Act: COVID-19 Loan
Forgiveness Relief—a Section 1106
Primer
Article By
Julie M. Macomb
Norris McLaughlin P.A.
Business Law Blog
Election Law / Legislative News
Corporate & Business Organizations
Financial Institutions & Banking
Coronavirus News
All Fed...

ANNUAL PERFORMANCE REPORT-WWTP

March 31, 2020

ANNUAL PERFORMANCE REPORT

2019

GENERAL INFORMATION

FACILITY/SYSTEM NAME: ST PAULS WASTE WATER TREATMENT PLANT/COLLECTIONS

RESPONSIBLE PARTY: THE TOWN OF ST PAULS

ORC WWTP: TIMOTHY LYDE 910-865-5164

APLICABLE PERMITS: NC0020095, WQCS00187

DESCRIPTION OF TREAMENT PLANT/C...

Inside the CARES Act: COVID-19 Loan Forgiveness Relief—a Section 1106 Primer Article By Julie M. Macomb Norris McLaughlin P.A. Business Law Blog Election Law / Legislative News Corporate & Business Organizations Financial Institutions & Banking Coronavirus News All Federal Sunday, March 29, 2020 Section 1106 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides loan forgiveness for certain qualifying Small Business Administration (SBA) loans. A “covered loan” is a loan added under new Section 7(a)(36) of the Small Business Act, which was added by the CARES Act itself. In addition to being a “covered loan,” the loan must be for a “covered period,” which is defined as the first eight weeks following the original of a covered loan. CARES Act Loan Forgiveness Specifically, the following items of indebtedness listed below are forgiven if they are made during the covered period. Additionally, the forgiveness may possibly be excluded from gross income. However, the amount forgiven cannot exceed the principal amount of the loan. The items include: 1 Payroll costs Interest payments on covered mortgages Rent Utility payments The amount forgiven will be reduced if the business has had employee layoffs or reductions to employee salaries and wages. Forgiveness Reduction Formula for Employee Layoffs This formula can only reduce the amount forgiven and cannot increase it. Employers with seasonal laborers are given a slightly different formula to determine the average number of employees. The reduction formula for employee salaries and wages is simpler and the amount forgiven is reduced by the amount of any reduction in salary or wages of any employee during the covered period, which is in excess of 25% of total salary and wages for the most recent quarter for that employee. For purposes of this formula, employees earning over $100,000 per year are excluded. If an employer rehires the employees or raises salaries and wages back to their prior level by June 30, 2020, the reduction formula above does not consider such reductions. Applying for CARES Act Loan Forgiveness Businesses who want to apply for loan forgiveness under this program need to submit supporting documentation to their lender, including proof of verification of employees, proof of utility payments, rent, and other documents to substantiate 2 their expenses. The lender must provide a decision within 60 days of receiving the application and supporting documentation. If approved, the SBA Administrator must remit payment (plus interest) to the lender within 90 days. Any amount forgiven under the CARES Act that would ordinarily be includible as gross income to the borrower for federal tax purposes is excluded from gross income. ©2020 Norris McLaughlin P.A., All Rights Reserved Source URL: https://www.natlawreview.com/article/inside-cares-act-covid-19-loanforgiveness-relief-section-1106-primer 3

March 31, 2020

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March 16, 2020

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April 16, 2018

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North Carolina's Undercount in the 2020 Census -State faces losing $74 billion over the next decade

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Small Business Center News - RCC to host free webinars

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Small Business Center News - RCC to host free webinars

North Carolina's Undercount in the 2020 Census -State faces losing $74 billion over the next decade

CONSUMER CONFIDENCE REPORT/ ROBESON COUNTY

2019 CONSUMER CONFIDENCE REPORT/ST. PAULS

FEDERAL FORGIVENESS LOANS FOR COVID-19

ANNUAL PERFORMANCE REPORT-WWTP

Coronavirus Facts:

CODE RED

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