Updates and Resources for Business

The Treasury Department and the Internal Revenue Service issued guidance yesterday, allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP).

Read more. 

On Sunday, December 27, President Donald Trump signed the $2.3 trillion coronavirus relief and government funding bill into law, averting a government shutdown, and extending billions of dollars in coronavirus aid to millions. The bipartisan legislation provides much-needed relief to hard-hit businesses during the COVID-19 pandemic, which has fundamentally altered our nation’s music and arts landscape with small business owners, manufacturers, employees, independent contractors, and music educators, among others, facing serious economic hardship.

View an informal 30-minute webinar summarizing the top-line relief provisions impacting NAMM member businesses. Or, read a summary of the relief package.

Since last March, NAMM has been at the forefront of advocacy and member education efforts concerning federal relief to assist NAMM members, their employees and family members, as well as countless others in the music industry. 

On Sunday, December 27, President Donald Trump signed the $2.3 trillion coronavirus relief and government funding bill into law, averting a government shutdown, and extending billions of dollars in coronavirus aid to millions.

The $900B Coronavirus Stimulus Package and the $1.4T Appropriations Legislation provide aid for small businesses, schools, employees, gig workers, and venues. The bipartisan, bicameral legislation provides much-needed relief to hard-hit businesses during the COVID-19 pandemic, which has fundamentally altered our nation’s music and arts landscape with small business owners, manufacturers, employees, independent contractors, and music educators, among others, facing serious economic hardship.

The legislation includes funding for:

• Small Business – a new round of forgivable PPP loans available
• Education
• Unemployment Insurance
• Direct payments to Individuals
• Tax Provisions
• Grants for Shuttered Venue Operators
• Coronavirus Relief Fund Extension

Read a complete December 22 summary of the package.

Last week the Equal Employment Opportunity Commission (EEOC) released new guidance on the extent to which employers can require employees to get the COVID-19 vaccine. Essentially, employers can require mandatory vaccines, as long they allow employees to receive the vaccine from a third party that does not have a contract with the employer and allow for reasonable accommodations under the ADA and Title VII.

Read more.

This week NAMM President and CEO Joe Lamond urged Congress to pass bipartisan relief legislation such as the "Emergency Coronavirus Relief Act of 2020" and the "Bipartisan State and Local Support and Small Business Protection Act of 2020" before the holiday recess. Mr. Lamond stressed that the proposed $908 billion emergency assistance for American families, workers, and small businesses is necessary to prevent additional music-related manufacturers and retail stores, and live event venues and workers from going out of business during this historical and unprecedented health and financial crisis that will likely extend through the end of2021.

Read the full letter.