Home Business Tribal Businesses and the CARES Act

Tribal Businesses and the CARES Act

by The 100 Companies
Tribal businesses

The Coronavirus Aid, Relief and Economic Security Act (CARES Act) establishes many significant loan programs and tax benefits to help tribal-owned businesses stay afloat and retain employees during the public health emergency created by COVID-19.

Some key findings to consider if applying: a tribal business cannot take this tax credit if it also gets a Payment Protection Program (PPP) loan; loan forgiveness is not permissible under Title IV loan programs; and for purposes of eligibility and size, tribal business concerns won’t be affiliated with the tribe or other tribal enterprises (such as gaming enterprises). For more detailed guidance, click here.

Quarles & Brady LLP reports

You may also like

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

The Arizona 100