The government sent out another $39.4 million to 1,294 employers who requested Employee Retention Tax Credit program after the impact of Hurricanes Irma and María last year.
Gov. Ricardo Rosselló said the new allocation pushes the total amount paid out to $414.4 million from June 2018 to 16,676 employers who retained 415,921 employees after the passage of the hurricanes, despite having inoperant businesses.
“We continue to support all employers who continued to pay salaries to their employees after the devastation left by hurricanes Irma and María in Puerto Rico in 2017. With this benefit we’re contributing to the recovery of our businesses that, despite their personal situation, supported their employees,” Rosselló said.
Earlier this year, the governor announced the extension of the deadline to apply for the Employee Retention Tax Credit program until Mar. 31, 2019. The deadline date for filing claims was also extended until April 30, 2019.
For its part, the government’s Chief Financial Officer, Raúl Maldonado said “the economic development of local businesses is extremely important to our government for job creation and contribution to the community.”
“We urge all employers in Puerto Rico to apply for this federal benefit because it has a positive impact on the island,” he said.
Meanwhile, the Acting Treasury Secretary Francisco Pares said the application and the benefit claim must be filed electronically on the department’s website.
“We will continue identifying benefits and relief to boost their businesses. Employers can receive up to $1,920 per eligible employee. It is vital that those who have not applied for this benefit, do so within the new deadlines,” he said.