Paycheck Protection Program Loan & Oregon Corporate Activity Tax Updates
The deadline to apply for a PPP loan with the SBA is August 8th, and there is currently still funding available. As the deadline approaches, it will become more difficult to find a lender who can submit the application in time. If you want to obtain a PPP loan, we recommend beginning the application process now.
Applying for PPP Loan Forgiveness
We have heard from many borrowers who want to apply for loan forgiveness now. While the loan forgiveness application forms have been released, many lenders are still working on their online submission portals. The SBA has not yet begun accepting the loan forgiveness applications from lenders. Here is an article from the AICPA that lists some reasons not to rush forgiveness applications.
Oregon CAT Estimated Payment Due Date
For businesses required to make quarterly estimated tax payments, the 2nd quarter payment is due July 31st.
Here is a full list of due dates for Oregon CAT estimates:
- Q1: April 30
- Q2: July 31
- Q3: October 31
- Q4: January 31