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Most Small Businesses Still Unaware of Retention Credit: Survey

March 25, 2021, 2:56 PM

Familiarity with a pandemic-relief tax credit for companies that don’t lay off their employees—which was extended to more businesses by recent stimulus laws—ticked up just slightly among small businesses, according to new survey results.

Among 526 small business owners surveyed by the National Federation of Independent Business, 42% said they were at least somewhat familiar with the employee retention credit as of mid-March, up from 36% in late January. Only 17% said they were planning to take the credit in 2021 in the more recent survey, compared to 10% who said in the January survey that they would take ...