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Q&A about SBA Loans related to the newly passed CARES Act

[SBA LOANS] With recent passage of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Small business owners, in particular, are anxious to receive relief under the Act. The Small Business Administration (SBA) is implementing regulations regarding the historic legislation. Here is a summary of what we know, currently:

Employer Essentials Resource Package

[EMPLOYMENT LAW] Phillips Murrah has put together a flat-fee bundle of basic policies and guidance to help employers comply with the Emergency Paid Sick Leave Act (EPSLA) and the Emergency Family Medical Leave Expansion Act (EMFLA), both of which are part of the Families First Coronavirus Response Act that goes into effect on April 1.

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Senate Approves CARES Act: Key Tax Changes

[TAX LAW] The CARES Act, approved by the Senate and set for a Friday House vote, provides both individuals and businesses with robust economic support, including through changes to the federal tax code.

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Senate Approves CARES Act: Important SBA Loan Information

[SBA LOANS] The CARES Act, approved by the Senate and set for a Friday House vote, authorizes $349 billion for SBA 7(a) loans. Read important highlights:

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What are considered “essential services” in Oklahoma during COVID-19?

Due to the horrible effects of the COVID-19 global pandemic, Oklahoma Governor Kevin Stitt has ordered that all businesses not identified as being within a critical infrastructure sector to close. Understandably, the order has a lot of Oklahomans wondering who and what falls into the category of being considered as a part of the critical […]

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ABLE permits beer and wine sale from licensed restaurants closed to dine-in service due to COVID-19

[LIQUOR LAWS] Many Oklahoma cities have closed restaurants to dine-in service and permit only delivery, take-out or curb-side pickup. ABLE permits beer and wine sales to consumers from licensed restaurants that are closed to dine-in service.

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Oklahoma Department of Commerce to host teleconference series on SBA Economic Injury Disaster Loans

[SBA LOANS] For Oklahoma businesses interested in more information about the U.S. Small Business Administration (SBA) Economic Injury Disaster Loan Program, The Oklahoma Department of Commerce is hosting three teleconferences that will cover the application process.

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Cybersecurity during COVID-19 transition to remote work policies

[CYBERSECURITY LAW] For companies, responding to the pandemic means enabling employees to work from home. With this comes the obvious preparation to allow employees access to company information outside of the company’s network. It is incredibly important to recognize that this comes with an increased risk of data security issues.

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Department of Labor Issues Interim Guidance on Recently-Enacted Coronavirus Response Act

[EMPLOYMENT LAW] The U.S. Department of Labor issued its first guidance on the implementation of the recently-enacted Families First Coronavirus Response Act. The DOL is expected to issue formal implementation regulations later this week. Some of the important information in this initial compliance assistance document is highlighted below:

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Senate reaches bipartisan deal on CARES Act

[EMPLOYMENT LAW] The U.S. Senate reportedly reached a bipartisan deal to finalize and pass the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), a $2 trillion stimulus package seeking to address the widespread economic damage caused by the ongoing coronavirus pandemic. 

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OTC issues tax notice related to curbside or drive-through sales of packaged beer and wine

[TAX LAW] Oklahoma Tax Commission: Curbside or drive-through packaged beer and wine sales do not constitute mixed beverages that are subject to 13.5% mixed beverage tax.

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Court-ordered custody visitation issues during COVID-19 pandemic

[FAMILY LAW] For families dealing with a court-ordered visitation schedule due to divorce, paternity actions, guardianships, or otherwise, there was no clear direction on how they should continue with their current court-ordered visitation schedule that primarily revolved around start and stop dates correlating with the minor child(ren) school calendar.

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State-by-State breakdown of COVID-19 tax relief to taxpayers

[TAX LAW] Over thirty states and municipalities are offering tax relief to taxpayers in connection with the COVID-19 outbreak. Attached is a summary of the various state and local actions as of March 24, 2020 that was prepared by Thompson Reuters Checkpoint.  So far, Oklahoma has provided two relief measures:

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Understanding Paid Sick Leave Tax Credits for Employers

[TAX LAW] The Families First Coronavirus Response Act (FFCRA) includes both the Emergency Paid Sick Leave Act, which provides for paid sick leave, as well as the Emergency Family and Medical Leave Expansion Act, which provides for expanded paid leave.  The Act provides employers relief in the form of tax credits to offset the cost of wages.

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DOL seeks public input on Family First Coronavirus Response Act

[EMPLOYMENT LAW] The U.S. Department of Labor (DOL) Wage and Hour Division (WHD) reached out on Monday seeking pubic input on how to implement The Families First Coronavirus Response Act (FFCRA). Input in open March 23 through March 29.