Main Street Relief Fund Frequently Asked Questions
Answers to frequently asked questions regarding the prequalification application, due May 29, 2020
What is the Prequalification Application, and why do I need to fill it out?
In order to understand the economic need in New Hampshire, the state is collecting data through the Prequalification Application. Filling out this application is a prerequisite to being able to apply for and later receive a Main Street Relief Fund grant. Filling out the Prequalification Application does not guarantee that an applicant will receive a grant.
What happens if I do not fill out a Prequalification Application?
Failure to fill out a Prequalification Application disqualifies a business from later applying for a Main Street Relief Fund grant.
When is the Prequalification Application due?
It is available now and must be completed by May 29th.
What is the State of New Hampshire going to use the data collected for?
The Governor's Office of Emergency Relief and Recovery (GOFERR) and the Department of Revenue Administration (DRA) will use the data collected through the Prequalification Application to determine eligibility, formula, and parameters to be used to award Main Street Relief Grants. For example, the data will be used to:
- Determine whether the predetermined threshold of less than $20 million in Tax Year 2019 gross receipts should be adjusted down;
- Determine how revenue loss will be addressed;
- Determine what business types should be excluded from this program due to specialty programs for those industries specifically; and
- Determine how to apportion losses for businesses operating in multiple states to ensure the program covers losses of New Hampshire businesses due to the contraction of the state’s economy.
How will affiliated entities be treated for purposes of calculating total annual gross receipts and determining whether a business exceeds the cut off threshold of $20 million in annual gross receipts?
Affiliated entities will be considered together for purposes of calculating a business’s total annual gross receipts. For instance, if two affiliated entities submit two separate grant applications with each entity showing $15 million in annual gross receipts, neither entity will qualify for a Main Street Relief Grant, due to the cumulative total being in excess of the $20 million threshold. For purposes of the Main Street Relief program, an entity shall be considered to be affiliated with any other entity that is under common control, whether directly or indirectly.
A group of affiliated entities should only submit one Prequalification Application and one Grant Application.
What is the Grant Application?
The Grant Application will be made available upon the close of the Prequalification Application period. The Grant Application will be used to award business grants based on a formulaic distribution. The formula will be made available when the Grant Application goes live.
How much will be awarded?
The Main Street Relief Fund will be funded with $400 million made available to New Hampshire under the federal CARES Act Coronavirus Relief Fund to provide economic relief due to the COVID-19 pandemic.
How much will I receive?
Grant amounts will be determined by the overall need and the final grant formula. The formula will be made available prior to the opening of the Grant Application period.
Who does not qualify?
Any business with Tax Year 2019 gross receipts of $20 million or more does not qualify for this program. This threshold may be adjusted down, and it may be determined that particular business types and/or categories do not qualify, after a review of the data collected during the Prequalification Application period. Also, businesses that have not been established for one full year do not qualify.
How is “self-employed” defined?
The individual is the sole proprietor, partner, officer, or director, both in name and fact of an entity, and the individual formed the entity or became involved in the activity of the entity in order to create profits for the entity, of which the individual is the only employee.
If I receive a grant, what can the funds be spent on?
The State of New Hampshire is not directing businesses on how to spend the money (“no strings attached”). Businesses must demonstrate they have experienced a financial loss due to COVID-19. It is expected that businesses will use the funds to assist in covering their operational costs and legal obligations.
Where can I find additional information on the Main Street Relief Fund?
Information regarding the Main Street Relief Fund and all relief funding opportunities that are available through the CARES Act grant to the State of New Hampshire can be found on the GOFERR website.
Can I still get a grant if I am not required to file a New Hampshire tax return?
The exact grant criteria has not yet been finalized; however, taxpayers that fall below the New Hampshire business tax filing thresholds and are therefore not required to file returns in New Hampshire should still complete the Prequalification Application in order to preserve their eligibility for a Main Street Relief Fund grant.
What if I don’t know my Tax Year 2019 Gross Receipts and/or wages?
For the purposes of the Prequalification Application, you should provide your best estimate. At the time of filing the Grant Application, in early June, it is anticipated that Tax Year 2019 information will be known, and the need for estimates will be minimal. You are not required to have filed your Tax Year 2019 return in order to submit a grant application.
What if my estimate of Tax Year 2020 Gross Receipts turns out to be incorrect?
You should make your best estimate of Tax Year 2020 Gross Receipts on both your Prequalification Application and on your Grant Application. The estimate should be your estimate as of the date of your submission, taking into consideration the effects of COVID-19 on your business. You will be asked to report your actual Tax Year 2020 Gross Receipts to the Department of Revenue Administration (DRA) at the conclusion of the year, and additional instructions regarding your potential obligation to return excess funds will be available at that time.
If my business operates in multiple states, how do I know if my principal place of business is in New Hampshire?
Your principal place of business is identified on your annual report filings with the New Hampshire Secretary of State's Office.
How do I fix errors I have identified in my prequalification application?
Every individual that has submitted a prequalification application receives an email with instructions on how to correct a submission. The portal to make corrections can also be found here. Please note, no changes can be made after the Prequalification period closes on May 29th.
Can I file more than one Prequalification Application?
Each business or group of affiliated entities should only submit one Prequalification Application. If you have submitted more than one Prequalification Application, you should delete all but one and make any necessary updates. The portal to make corrections can be found here. At the closure of the Prequalification Application period on May 29, 2020, only your most recent submission will be considered.
I didn’t receive a confirmation email after I submitted my prequalification application?
Please check your spam/junk email folder and your email settings. If you feel as though your prequalification application was not submitted, please resubmit your prequalification application.
I am having trouble completing my prequalification application using my web browser.
You may have to use a different web browser or update your settings.