Jenniffer González directs employers to claim federal money as a result of her legislation

Invites to incentives orientation on August 17 alongside the Department of Treasury, SBA, CUD and the Puerto Rico Chamber of Commerce

San Juan, Puerto Rico- The Resident Commissioner, Jenniffer González Colón, together with the Department of the Treasury will advise on the Tax Credit for Employee Retention (ERTC, for its acronym in English), federal initiative of the Commissioner, to provide relief to employers affected by the hurricanes Irma and María who retained their employees.

"We have managed to get the employers in the island who paid their salary during Hurricanes Irma and Maria to receive an economic incentive from the federal government that fluctuates between one thousand five hundred sixty and one thousand nine hundred and twenty dollars per employee. This incentive is my way of thanking and recognizing thousands of employers who, in such a difficult moment, kept the economy on its feet", said González Colón.

"The Department of the Treasury has disbursed millions of dollars for the tax credit of local employers for the retention of employees after the passage of Hurricane Irma and Maria. Small and medium businesses are extremely important for us and for Governor Ricardo Rosselló, they constitute a fundamental and essential component for the development and economic stability for Puerto Rico, "said the designated secretary of the Department of the Treasury, Teresita Fuentes, CPA.

The orientation and training event will take place this Friday, August 17, 2018, at the Electronic Lottery Theater, known as the Drawing Room. Registration begins at 8:00 a.m. to begin the event at 9:00 a.m.

Interested parties are required to reserve their space at the following link: https://apps1.hacienda.pr.gov/registroevento

The event will include representatives of the Office of the Resident Commissioner, the Department of the Treasury, the Federal Administration of Small Businesses (SBA); the United Retailers Center; the Company of Commerce and Exportation, Bank of Economic Development of Puerto Rico, Association of Industrialists; and the Puerto Rico Chamber of Commerce to offer help and information of services to the participants of the event.

"The Federal Small Business Administration (SBA) supports every initiative aimed at the welfare of small Puerto Rican businesses," said Yvette T. Collazo, district director of the SBA for Puerto Rico and the Virgin Islands. "In these times of unprecedented challenges, it is important to provide our businessmen with the necessary resources to help them continue operating their businesses efficiently, and to preserve and create the jobs that will foster the economic development of Puerto Rico."

"Definitely, for the small and medium-sized companies that saw their operations affected by the hurricanes and yet retained their employees, it is a well-deserved incentive." The Puerto Rican business class appreciates that the federal authorities have extended this benefit to us, "Nelson commented. J. Ramírez Rivera, president of the United Retailers Center.

"Traditionally, the credits for retention of employment granted by the Federal Treasury are limited to North American entities that pay federal contributions. It is a historic achievement that this benefit has been granted as a reimbursement to the entrepreneurs of the Island at such a critical time due to the passage of hurricanes, "said Kenneth Rivera Robles, president of the Puerto Rico Chamber of Commerce.

Immediately, after the impact of Hurricanes Irma and Maria, the resident commissioner, Jenniffer González Colón, along with Congressmen Carlos Curbelo and Stacey Plaskett, presented an amendment to the HR 3823 project of the Federal House of Representatives for a contributory relief to be granted to employers affected by hurricanes Irma and María; being converted into the Federal Tax Exemption Law for Disasters and Extension of Airports and Airways only nine days after María's impact in Puerto Rico.

Employers who can claim this benefit, which is deposited directly into their bank account, are those whose businesses were inoperative due to the passage of Hurricanes Irma, from September 4 to 15, and Maria, from September 16, 2017 and before January 1, 2018.

They can claim up to $ 1,920 for each eligible employee who has been paid wages during the emergency ($ 1,560 per eligible employee, in the case of employers whose net income subject to contribution is more than $ 10 million).

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