Serving Clovis, Portales and the Surrounding Communities
Serving Clovis, Portales and the Surrounding Communities
Disaster loans being offered
The U.S. Small Business Association is offering low-interest federal disaster loans to small non-farm businesses in 21 New Mexico and Texas counties to offset economic losses tied to droughts.
Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had drought conditions not occurred.
Local counties include Curry, Roosevelt, Quay, De Baca in New Mexico and Bailey in Texas.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance, and are advised to contact their local Farm Services Agency.
Applications will be accepted until Aug. 21, and are available at disasterloanassistance.sba.gov. Applicants may also call 800-659-2955 or email [email protected].
The deadline to apply for economic injury is April 12, 2021.
Vehicle form deadline soon
WASHINGTON — The Internal Revenue Service is reminding owners of most heavy highway vehicles Aug. 31 is the deadline to file Form 2290, Heavy Highway Vehicle Use Tax Return, and pay associated taxes.
The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. This generally includes large trucks, truck tractors and buses. The tax is based on the weight of the vehicle. A variety of special rules apply. These special rules are explained in the form’s instructions, and the IRS website has a page dedicated to helping drivers determine if they are subject to the tax.
In 2019, the IRS received approximately 941,000 Heavy Highway Vehicle Use Tax Returns.
Information: irs.gov/trucker
Business Digest is compiled by the staff of The News. Contact Editor Kevin Wilson at 575-763-3431, ext. 320, or by email:
