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Business News

Franchise Tax Board announces actions to help businesses impacted by COVID-19

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Written by: Lake County News Reports
Published: 17 March 2020
SACRAMENTO – Prompted by the COVID-19 pandemic, California Franchise Tax Board leaders on Friday announced they would grant an extension to file 2019 California tax returns and make payments until June 15, in accordance with Gov. Gavin Newsom’s March 12 executive order.

Also, partnerships and LLCs that are taxed as partnerships and whose tax returns are due on March 15 now have a 90-day extension to file and pay by June 15.

The new extensions apply to any business entity with a California return or payment due between March 15 and June 15.

This includes corporations, s-corps, LLCs, partnerships, and other entity types with returns due during this period.

Individual filers whose tax returns are due on April 15 now have a 60-day extension to file and pay by June 15.

To help Californians impacted by recent public health measures, State Treasurer Fiona Ma said she is working with the governor and the Legislature to urge the following actions over the next six months:

· Suspend the $800 LLC tax and the LLC fee for the prepayment of the 2020 calendar tax filing year;

· Extend the state sales tax filing deadlines without interest, penalties or fines on late payment.

Due to business disruptions during this time, certain industries may be impacted.

For starters, here are some federal, California and local assistance resources for small businesses:

· The U.S. Small Business Administration has announced up to $2 million in Disaster Assistance Loans to small businesses impacted by COVID-19, a positive start to assist 30 million small businesses. Visit www.sba.gov .

· The California Film Commission will allocate $330 million per year from July 2020 through June 2025 as part of an extended Program 3.0 Film and TV Tax Credit Program. Visit www.film.ca.gov .

Commercial Dungeness crab fishery update: Entanglement risk low, fishery to remain open

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Written by: California Department of Fish and Wildlife
Published: 14 March 2020
The California Department of Fish and Wildlife is providing the following important update on the status of the commercial California Dungeness crab fishery which includes the Northern Management Area (Fish and Game Districts 6, 7, 8 and 9) and Central Management Area (Fish and Game Districts 10 and south).

On March 9, the California Dungeness Crab Fishing Gear Working Group was convened to review current data and conduct an updated risk assessment to evaluate the risk of marine life entanglement.

The working group provided a consensus recommendation that the risk remained low across all four risk factors.

Informed by this recommendation and after careful consideration of available data, the CDFW director determined that no management action is necessary at this time; the season will remain open on April 1 for both the Northern and Central Management Areas.

The director and the working group encourage the fleet to continue to use best practices when fishing and to be ready to quickly respond to a management change when significant numbers of whales return to the fishing grounds, typically in April or May each year.

For the remainder of the commercial season, CDFW will continue to collect data to inform bi-weekly risk assessments by the Working Group.

Based on that process, CDFW will likely take additional management actions in response to future risk assessments. Management action may occur at any time as conditions related to entanglement risk change.

CDFW is committed to providing the fleet with as much advance notice as possible should the Director determine a management response is appropriate. For more information related to the risk assessment process, please visit CDFW's Whale Safe Fisheries page.

For more information, please see CDFW's Frequently Asked Questions regarding the 2019-2020 Dungeness crab commercial season or www.wildlife.ca.gov/crab .

Savings Bank reports on proactive measures regarding COVID-19

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Written by: Lake County News Reports
Published: 13 March 2020
NORTH COAST, Calif. – Savings Bank of Mendocino County is taking proactive measures to prepare for COVID-19, caused by novel coronavirus.

Bank officials said they are closely monitoring developments from the Centers for Disease Control and Prevention, as well as state and local authorities and are aware that COVID-19 has been declared a global pandemic by the World Health Organization.

"Our top priority is the health and wellness of our customers, employees and the communities we serve while continuing to provide banking services", said Scott Yandell, Savings Bank president and CEO. "We want to assure you that we have taken precautionary measures to promote good health and wellness".

The banking centers are professionally cleaned and they are enhancing their cleaning protocols for commonly touched surfaces.

Their employees have been informed and urged to follow basic preventative measures and have been asked to stay home if they or a family member have a fever or have potentially been exposed to COVID-19. To help keep us all well, they ask that customers do the same.

Savings Bank has social distancing practices currently in place, which means when you stop by the Bank they will greet you with a friendly smile instead of a handshake.

Employees will not be traveling for business to large conferences, classes or trainings, and they have put into practice alternatives to meeting in person for large group employee meetings.

The bank knows that access to your accounts is a top priority. Because of this, they want to remind you that they offer the latest banking technology. These tools give you the flexibility and convenience to access your accounts without coming into the Bank.

Savings Bank's presence on social media allows customers and the community to connect with the Bank for up to date information from your computer or mobile device.

If you haven't already done so, now is a great time to log in to online banking, download the mobile app and follow them on Facebook and Instagram.

Drive-up interactive teller machines: Open from 8 a.m. to 5 p.m., Monday through Thursday, and until 6 p.m. on Fridays in Ukiah, Redwood Valley, Willits and Fort Bragg.

ATMs: Available 24 hours a day, seven days a week. Fourteen machines to serve you in Ukiah, Redwood Valley, Willits, Fort Bragg, Mendocino and Lakeport.

Online Banking, www.savingsbank.com : Access your accounts online to transfer money between your accounts, check balances, monitor account activity, view statements, pay bills, person to person payments and more.

Mobile banking apps for Apple and Android devices: Connect to your accounts anytime, anywhere. Deposit checks in a snap, transfer money between your accounts, check balances, monitor account activity and pay bills.

Debit and credit cards: There are options for you if you prefer to use a card instead of cash.

TeleBank, 877-477-1154: Your telephone can connect you to your accounts 24 hours a day, seven days a week.

By phone: If you would like to speak with a loan accounting representative to make a payment by phone, please call 707-462-6613, Extension 1240. To speak to a bank representative for any other banking needs or questions, please call your local banking center. Phone numbers are available on our website locations page, https://www.savingsbank.com/locations.php .

Facebook and Instagram: Follow Savings Bank on Facebook and Instagram for the most current information about Bank operations and services as the situation progresses.

Savings Bank of Mendocino County is well prepared and its team is closely monitoring local conditions, the recommendations of medical experts and governmental representatives, and they are taking appropriate measures. The Bank will provide updated information on their website and on their Facebook and Instagram pages as necessary.

Attorney General Becerra announces settlement ending the state’s challenge to T-Mobile, Sprint merger

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Written by: California Attorney General's Office
Published: 12 March 2020
SACRAMENTO – California Attorney General Xavier Becerra on Wednesday announced a settlement with T-Mobile, resolving the state’s challenge to the company’s merger with Sprint.

The settlement includes terms to protect low-income subscribers, extend access to underserved communities, protect current T-Mobile and Sprint employees, and create jobs in California.

T-Mobile will reimburse California for the costs and fees of its investigation and its litigation challenging the merger.

This settlement ends the legal challenge brought by Attorney General Becerra leading a multistate coalition, which alleged that the merger was unlawful and would lead to reduced competition and increased prices for consumers.

“Our coalition vigorously challenged the T-Mobile/Sprint telecom merger over concerns that it would thwart competition and leave consumers with higher prices,” said Attorney General Becerra. “We took our case to court to ensure that, no matter its outcome, we'd protect innovation and fair prices. Though the district court approved the merger, its decision also made clear to companies that local markets matter in assessing the competitive impact of a merger and that no one should underestimate the role of state enforcers. Most importantly, today's settlement locks in new jobs and protections for vulnerable consumers, and it extends access to telecom services for our most underserved and rural communities."

As required by the settlement, the merged company is required to:

– Make low-cost plans available in California for at least 5 years, including a plan offering 2 GB of high-speed data at $15 per month and 5 GB of high speed data at $25 per month;
– Extend for at least an additional two years the rate plans offered by T-Mobile pursuant to its earlier FCC commitment, ensuring Californians can retain T-Mobile plans held in February 2019 for a total of five years;
– Offer 100 GB of no-cost broadband internet service per year for five years and a free mobile Wi-Fi hotspot device to 10 million qualifying low-income households not currently connected to broadband nationwide, as well as the option to purchase select Wi-Fi enabled tablets at the company’s cost for each qualifying household;
– Protect California jobs by offering all California T-Mobile and Sprint retail employees in good standing an offer of substantially similar employment. T-Mobile also commits that three years after the closing date, the total number of new T-Mobile employees will be equal to or greater than the total number of employees of the unmerged Sprint and T-Mobile companies;
– Create approximately 1,000 new jobs in California with a customer service center in Kingsburg;
– Increase diversity by increasing the participation rate in its employee Diversity and Inclusion program to 60 percent participation within three years; and
– Reimburse California and other coalition states up to $15 million for the costs of the investigation and litigation challenging the merger.
  1. California attorney general issues consumer alert on price gouging following statewide declaration of emergency for novel coronavirus
  2. CDFA announces grant funding available for Healthy Soils Program
  3. Gov. Gavin Newsom announces council of economic advisors
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