Understanding the Employee Retention Tax Credit & Work Share Unemployment Program
Please join us for a webinar Wednesday, May 13, 9:00-10:00 a.m. to learn about the Employee Retention Tax Credit and Work Share program that may provide financial assistance for your business. You will hear from Bryan Moore of the Maryland Department of Labor. Most of the loan and grant programs are maxed out but these two programs could provide additional budgetary help for your business. The Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. Work sharing, or short-time compensation (STC), is an Unemployment Insurance (UI) program that allows an employer to reduce the number of hours an employee works during a week while unemployment compensation makes up some of the difference in income, including the $600 in Pandemic Unemployment Assistance (PUA). Featured speakers include: Ashley Wilson with the U.S. Chamber of Commerce, Jennifer Gray with KPMG and a representative from the Maryland Department of Labor. The webinar is free to attend but registration is required.