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Note 7 - Employee Retention Credit
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Employee Retention Credit [Text Block]

NOTE 7. EMPLOYEE RETENTION CREDIT

 

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law providing numerous tax provisions and other stimulus measures, including an employee retention credit (“ERC”), which is a refundable tax credit against certain employment taxes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 and the American Rescue Plan Act of 2021 extended and expanded the availability of the ERC.

 

During the year ended December 31, 2022, we received payment on the Employee Retention Credit for the first quarter of 2021 of $2,559. At March 31, 2023 and December 31, 2022, the Company has ERC benefits of $2,650 within Employee Retention Credits Receivable on the condensed consolidated balance sheet. The company received payment on this remaining receivable on May 1, 2023.