The COVID-19 pandemic has created significant and unforeseen impacts to the lives of so many people. It has especially impacted local and small businesses because of the stay-at- home orders and other public health restrictions that have severely limited normal economic activity. Local businesses are vital to the economy and the success of the Town of Berthoud. They create jobs, provide needed goods and services, and collect sales taxes that help to fund essential and desired government services.
In order to provide financial assistance to local businesses that collect sales taxes, the Town has created a Local Business Relief Fund. This fund will deliver money directly to businesses via a partial rebate of sales taxes that were remitted to the Town of Berthoud for taxes collected in December 2019, January 2020, and February 2020.
To Be Eligible:
- The business must have a current business sales tax license issued by the Town of Berthoud prior to January 31, 2020.
- The business must be in good standing with the Town and must have remitted the sales taxes it has collected as required by law.
- The business must be physically located in the Town of Berthoud. Home-based businesses are not eligible for funding. Food Trucks whose business address is in the Town of Berthoud may be eligible.
- The business must submit a complete, signed, application. The application must include the following attachments:
- Sales Tax Return Forms (Form DR 0100) for the taxes collected in December 2019, January 2020, and February 2020 from a business physically located in the Town. (if available)
- Sales Tax Return Forms (Form DR 0100) for March 2019 and March 2020 (if available).
- All applicants must certify that they will use the funds for legitimate business expenses including but not limited to: rent, payroll, utilities, increased operating expenses related to COVID-19, supplies necessary for operating during the COVID- 19 emergency, etc.
- All applicants must certify that they will allow the Town to audit their finances in the event the Town believes the funds were misused.
- All applicants must submit a signed report form to the Town within 60 days of receiving the rebate that states what the funds were spent on.
Additional Program Details:
- Applications may be submitted to the Town beginning April 29, 2020. Complete applications should be placed in a sealed envelope in the payment drop box at Town Hall.
- Applications will be reviewed on a first come, first serve, basis.
- All payments must be made to the business, and not an individual.
- Businesses that demonstrate a loss of revenue when comparing the March 2019 and March 2020 forms, will be eligible to receive a sales tax rebate of 50% of the sales taxes remitted to the Town of Berthoud for taxable sales in December 2019, January 2020, and February 2020 up to a maximum of $10,000.
- Businesses that can not demonstrate a loss of revenue will be eligible for the minimum rebate of $2,000.
- Approved applicants will receive at least the minimum rebate amount of $2,000, regardless of the total sales of the business.
- If 50% of a business’s sales taxes remitted to the Town for sales in December 2019, January 2020, and February 2020, totals more than $2,000, the applicant will receive a payment equal to 50% of the taxes remitted to the Town, up to a maximum of $10,000.
- Applications may take up to two weeks to process.
- All payments will be made via check and mailed to the business address included in the application.