The small business repercussions from the outbreak of coronavirus (COVID19) continues to expand as more and more state and local officials begin to declare a state of emergency and enforce closures. The Automotive Service Association (ASA) understands that necessary measures are being taken to slow the spread of COVID19.
In an effort to ensure that small businesses are not left behind during this critical time, ASA has signed onto a letter addressed to Speaker of the House Nancy Pelosi (D-CA) and Republican Leader Kevin McCarthy (R-CA) requesting immediate disaster relief for small business and their employees where the core functions of the business cannot switch to remote function.
In the letter, ASA, along with other automotive coalition members, urged the Trump Administration and Congress to consider the following:
Allow the 100% deduction of business losses for non-remote-function-capable small businesses (NRFCSB) for the 2020 tax year applicable to all business formation types (e.g., S corporations, sole proprietors, partnerships, etc.). A NRFCSB is defined as a small business according to Small Business Administration standards that requires on-site employee activity and consumer interaction in order to engage in its core functions.
The U.S. Congress is now working on its third COVID19 response stimulus package.
ASA is urging automotive repair and maintenance facilities to click here to send a letter to their member of Congress that these essential businesses remain open to support local economies.
