Gov. Gavin Newsom on Thursday said that the state is offering a one-year reprieve for small businesses to pay sales tax.
“No fines, no penalties will be attached, where they can take upwards of $50,000 as a loan and not have to pay state those sales tax receipts for 12 months. In essence, it is a bridge loan. The money that you have already collected you will not have to pay the state for 12 months,” Newsom explained at a news conference heard during Flight 1080 on KSCO.
Newsom had previously signed an executive order extending the time to file sale tax.
Also available to businesses is a program that provides up to $10 million in relief for those that keep paying their workers, Newsom said.
