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Wisconsin Tomorrow Small Business Recovery Grant

Wisconsin Tomorrow Small Business Recovery Grant

The Wisconsin Department of Revenue (DOR) and the Wisconsin Economic Development Corporation (WEDC) have collaborated to develop a program to aid small businesses impacted by COVID-19. A total of $420 million, in grants of $5,000, will be awarded to each approved small business.

Businesses that already received a ‘We're All In Small Business Grant’ from WEDC or DOR are eligible to apply if the required criteria is met. Awarded grants can be used for any business operating costs, including wages and salaries, rent, mortgages, and inventory, and/or for health and safety improvements.

To be eligible, ALL of the following must be met:

  • The business started operating on or before December 31, 2020 and is still operating in 2021.
  • Annual revenues are between $10,000 and $7,000,000.
  • At least 75% of the business's value of real and tangible personal property owned/rented and used by the business is located in Wisconsin.
  • At least 75% of the amount of the business's labor costs are incurred by individuals performing services for the business in Wisconsin.
  • The individual or entity must not be on one of the following lists:
  • The business must not be a governmental unit or primarily engaged in any of the following North American Industry Classification System (NAICS) codes beginning with:
    • 111XXX - Crop Production
    • 112XXX - Animal Production or Aquaculture
    • 5311XX - Lessors of Real Estate
    • 813XXX - Nonprofit Organizations

The application should take approximately 15 minutes and must be completed in one session. It will only be open from Monday, May 24, 2021 8:00am – Monday, June 7, 2021 4:30pm. Grants will be issued by June 30, 2021. Only one grant will be awarded to each individual/entity regardless of the number of business divisions owned (exceptions include spouses with separate businesses and corporations within a federal consolidated group/Wisconsin combined group).

For more information on this program, please visit: https://www.revenue.wi.gov/Pages/TaxPro/2021/WisconsinTomorrowSmallBusinessRecoveryGrant.aspx#10

If you have any questions or need assistance, contact SVA today.

 

Locations

Madison, WI
1221 John Q Hammons Dr, Suite 100
Madison, WI 53717
(608) 831-8181

Milwaukee, WI
18650 W. Corporate Drive, Suite 200
Brookfield, WI 53045
(262) 641-6888

Colorado Springs, CO
PO BOX 62786
Colorado Springs, CO 80962
(719) 413-5551

Contact

(888) 574-4782
info@SVAaccountants.com
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