Gov. Arnold Schwarzenegger has directed the Employment Development Department to extend payroll tax deadlines by up to 60 days for small businesses hit hardest by the wildfires. “Small businesses play a vital role in California’s economy and contribute so much to our state,” said Gov. Schwarzenegger. “We must do everything we can to get businesses up and running again and people back to work. These actions will jump start that process.” The executive order signed by the Governor assists the victims of the wildfires by suspending the one-week waiting period for unemployment insurance, waiving fees and assisting in the replacement of certain vital documents and expediting the cleanup and debris removal process. The Governor also requests the Franchise Tax Board and the Board of Equalization to use their administrative powers where appropriate to assist fire victims with filing extensions or relief from penalties and assessments in the order. Gov. Schwarzenegger has also directed the Small Business Disaster Assistance Loan Guarantee Program to be activated to guarantee $7 million in loans for farms, agriculture-related businesses and businesses in communities that suffered damage or significant economic loss as a result of the southern California wildfires.
