The Employee Retention Credit (ERC) is a refundable federal payroll tax credit designed to encourage businesses to retain their employees through COVID-19. This valuable credit can provide up to $26,000 per employee across the 2020 and 2021 tax years.

Even though your cannabis business wasn’t eligible for PPP loans or other COVID-related assistance, the ERC program is available to you. Our deep experience enables us to think creatively within the confines of IRS regulations to maximize the benefits of the ERC to increase liquidity.

Are you eligible for the Employee Retention Credit?

The ERC applies to any private-sector business or tax-exempt organization that carries on a trade or business that experienced one of these conditions:

Experienced a full or partial suspension in operations

Business was either fully or partially suspended due to orders from the federal government, or a state government having jurisdiction over the employer, limiting commerce, travel, or group meetings due to COVID-19.

Experienced a significant decline in gross receipts

During any quarter compared to that same calendar quarter in 2019. Defined at a 50% decline in any quarter during 2020 and a 20% decline in 2021.

Is a Recovery Startup Business

A business that: a) began carrying on a trade or business after February 15, 2020, b) has average annual gross receipts that do not exceed $1,000,000 and c) do not meet either of the other two criteria outlined above.

Our process is straight-forward. We do the leg-work for you.

Determine and Document Eligibility

We’ll help you research your ERC eligibility under the CARES Act and subsequent legislation and provide comprehensive reporting, in line with regulatory requirements.

Calculate and Document Qualified Wages

Once we have determined that your business qualifies as an “eligible employer” under the CARES Act and subsequent legislation, we will help you identify and calculate the qualified wages your company paid to determine the ERC amount you can claim.

Filing For The ERC

We will help you claim your credits using Form 941-X, an amended quarterly payroll federal tax return. If you were eligible and did not file for the ERC, we can help you file this amended return to receive the credits you are entitled to.

Audit-Ready Support

Did you know that you need to prepare solid, audit-ready documentation in order to claim the ERC on your federal payroll tax return? We take the lead on producing this deliverable and ensure you are ready for an audit when the IRS comes knocking on your door.

Claim the ERC, hassle-free

Maximize the benefits of the Employee Retention Credit