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Governor signs executive order to aid small businesses

Governor signs executive order to aid small businesses

Gov. Gavin Newsom signed an executive order on Monday intended to provide small businesses temporary tax relief.

The governor’s action allows the California Department of Tax and Fee Administration to offer a 90-day extension for tax returns and tax payments for all businesses filing a return for under $1 million. Businesses will have until July 31, 2020, to file their first-quarter returns.

Additionally, the order extends the statute of limitations by 60 days to file a claim for refund to accommodate tax and fee payers.