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New York Shifting Sales Tax Receipts to Help Hospitals

New York is diverting sales tax proceeds to help struggling hospitals, and Massachusetts tax revenue actually came in ahead of expectations in March. In California, meanwhile, business groups aren’t entirely pleased, but counties agreed to waive interest and fees on late property taxes. Here’s the latest on shifting state tax guidelines, deadlines, and policy to deal with the coronavirus pandemic. For Friday’s coverage click here. Here’s a state-by-state roadmap.

SBA System Freezes in Blow to Small Firms Seeking Virus Aid

The Small Business Administration’s loan processing platform went down Monday for as long as four hours, temporarily halting the ability of lenders to process loans for small business owners seeking relief from the impact of the coronavirus.

State DOTs Seek $50 Billion to Offset Plummeting Revenues

State transportation departments need $50 billion in federal funds to offset significant revenue declines due to plummeting road travel and gasoline sales, according to the American Association of State Highway and Transportation Officials.

Billions in Stimulus Cash: Who Gets it and How to Get Access

This is normally the time of year when the federal government is collecting taxes due, but the devastating coronavirus now has the U.S. trying to rapidly dole out hundreds of billions of dollars in aid and tax breaks to businesses large and small.

Opportunity Zones: Will Tax Break for Investors Benefit Communities Too?

The 2017 tax overhaul included incentives to invest in distressed communities. Investors benefit from tax breaks and the designated opportunity zones benefit from economic investment, but critics say already-wealthy investors don’t need these breaks.

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Balance Sheets Return to Prominence

How Congress Will Step in to Solve State Tax Chaos