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: