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About us

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Avv. Flavia Betti Tonini, PhD, Of Counsel Flavia Betti Tonini is an experienced attorney with a solid background in corporate law, compliance, criminal law, and...

Posted on 13th January 2023 by lcmm@melchionnalaw.com

About us

Mission and Values

Mission Melchionna PLLC is an indipendent law firm. Melchionna PLLC’s mission is to provide outstanding legal services and tax advice. We focus on building a relationship with...

Posted on 5th November 2019 by lcmm@melchionnalaw.com

About us

Melchionna PLLC, a law firm with a focus on business, corporate, tax, and IP law.

About us Melchionna PLLC represents and assists North American and European business clients in achieving their goals with sound legal advice and innovative solutions to current...

Posted on 18th February 2019 by lcmm@melchionnalaw.com

Business law

Paycheck Protection Program and Health Care Enhancement Act – COVID-19 – April 24-2020

On April 21, 2020, Congress passed the Paycheck Protection Program and Health Care Enhancement Act, its fourth major coronavirus relief package. The bill amends the CARES Act to...

Posted on 24th April 2020 by lcmm@melchionnalaw.com

Alcohol Law

Online alcohol sales benefit of a new regulatory approach

During the Covid-19 pandemic, alcohol sales and home delivery services for wine, beer and spirits are on the rise. This is due to a novel regulatory approach that changed alcohol...

Posted on 14th April 2020 by lcmm@melchionnalaw.com

Business law

CARES Act. PPP loans to foreign-owned small businesses (FOSB). April 3, 2020 SBA Guidance.

The CARES Act, enacted March 27, 2020, (P.L. 116-136) includes the new Paycheck Protection Program (PPP), which offers forgivable loans from $1,000 up to $10 million to small...

Posted on 6th April 2020 by lcmm@melchionnalaw.com

Business law

The 2020 CARES (Coronavirus Aid, Relief, and Economic Security) Act – Summary – Business Loan Application and Forgiveness (2020 CARES Act) – Paycheck Protection Program – March 30, 2020 (6:34pm)

On March 25, 2020, the United States Senate unanimously approved a $2 trillion rescue package to combat the Covid-19-induced economic downturn...

Posted on 1st April 2020 by lcmm@melchionnalaw.com

Business law

The 2020 CARES (Coronavirus Aid, Relief, and Economic Security) Act – Summary. March, 27 2020 – 10:30 am

On March 25, 2020, the United States Senate unanimously approved a $2 trillion rescue package to combat the Covid-19-induced economic downturn...

Posted on 28th March 2020 by lcmm@melchionnalaw.com

International tax

Tax Inversion under Italian and U.S. Regulations

Abstract “Esterovestizione” – a.k.a. “tax inversion” or “corporate expatriation” is the practice of moving a domestic parent company to a foreign jurisdiction with a lower tax...

Posted on 21st March 2020 by lcmm@melchionnalaw.com

Business law

COVID-19 – Legal, corporate, and tax advisory

As a law firm with global reach, Melchionna PLLC would like to reaffirm its support to clients and prospective clients affected by the worldwide spread of the COVID-19 (COrona...

Posted on 16th March 2020 by lcmm@melchionnalaw.com

Tax Law

Chamberlain and Edelman: double taxation, the dormant commerce clause and a few planning considerations

In the 2015 case Comptroller of Treasury of Md. v Wynne, 575 U. S. 542 (2015)(‘Wynne‘) the United States Supreme Court affirmed that a state’s...

Posted on 12th March 2020 by lcmm@melchionnalaw.com

M&A and corporate law

When and how to pull levers: intent and enforceability of term sheet/letter of intent

Introduction A term sheet (TS) should be able to document with reasonable clarity and transparency corporate intent to reach certain goals. Similar to a TS, a letter of intent...

Posted on 3rd February 2020 by lcmm@melchionnalaw.com

Tax Law

Corporate tax reform in Missouri

Missouri’s Senate Bill 884 of 2018 (the “Act”), which lowered the corporate rate from 6.25% to 4%, became effective on January 1st this year, making the state one of the lowest...

Posted on 3rd January 2020 by lcmm@melchionnalaw.com

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Business law

Paycheck Protection Program and Health Care Enhancement Act – COVID-19 – April 24-2020


lcmm@melchionnalaw.com
Paycheck Protection Program and Health Care...
Posted on 24th April 2020 by lcmm@melchionnalaw.com

On April 21, 2020, Congress passed the Paycheck Protection Program and Health Care Enhancement Act, its fourth major coronavirus relief package. The bill amends the CARES Act to replenish the Paycheck Protection Program (PPP) — which ran out of money in just 13 days — increase funds available for the SBA economic injury disaster program, and expand access to both programs. It also provides additional relief for hospitals and coronavirus testing across the country.

Here are the details of the bill’s major provisions:

Paycheck Protection Program (PPP)

  • $310 billion in new funding for the PPP in accordance to Section 7(a) of the SBA;
    • $60 billion is reserved for small banks, community financial institutions, and credit unions. This set-aside will help ensure small businesses and underserved communities still have access to the PPP loans

Economic Injury Disaster Grants/Loans (EIDL)

  • $10 billion in additional funding for coronavirus-related economic injury disaster loans (EIDL);
  • $50 billion in additional funding for direct loans under the economic injury disaster loans program (DLP);
  • Agricultural enterprises with fewer than 500 employees are now also eligible for economic injury disaster loans and grants

Health Care Support and Coronavirus Testing

  • $75 billion in new funding for health care providers for expenses and losses related to Covid-19;
  • $25 billion for research, development, manufacturing, and surveillance of Covid-19 tests

Interested businesses should contact their lenders as soon as possible to submit an application.

lcmm@melchionnalaw.com
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