The National Limousine Association (NLA) reminded members seeking financial assistance through the Coronavirus Economic Relief for Transportation Services (CERTS) Program that the application submission deadline is July 19. The program was created to support transportation service providers affected by COVID-19 – including motorcoach, school bus, passenger vessel, and pilot vessel companies.
According to the NLA, “CERTS applications must have the correct NAICS code on your tax returns. Most NLA members likely use 485320 (limo services). That is not listed as an approved code. If you are applying for CERTS, you should immediately update your NAIC code to reflect the actual business model with the proper NAICS code. Please check with your CPA but acceptable codes should be 485990 (All Ground Transportation) or 485551 (Charter Bus). To change or update the NAICS code, contact your CPA to file amended tax returns with the updated code.”
The U.S. Treasury is providing up to $2 billion in grants through CERTS to eligible companies that certify they experienced an annual revenue loss of 25% or more as a direct or indirect result of COVID-19. CERTS grant funds are primarily to cover payroll costs but may also be used to cover the acquisition of services, equipment, including PPE and protection measures from COVID-19 for workers and customers; continued operations and maintenance of existing equipment and facilities; rent, leases, insurance, and interest on regular debt service.
To gain access to the CERTS portal and submit an application, a company representative must first register with a username and password through the ID.me identity service. More information can be found by clicking here.
Source: National Limousine Association