WTC program application instructions and procedures

NYC 9/11 Public Portal Document

Q. Would a lawyer, doctor, accountant or stockbroker be considered a retail or personal service business? A. No. Legal, medical, financial, business or other professional services are not classified as retail or personal services and are not eligible for grants under this program.

Q. If I receive a WTC Disaster Retail Recovery Grant, will I be liable for taxes on the grant re­ ceived? A. Yes. Grant recipients will receive a Form 1099-G at the end of the year. Please consult your tax advisor on the treatment of this item on your tax return.

Q. How is the grant amount calculated? A. For each Eligible Business, the Grant Program would provide a cash grant up to an estimated 3 days of gross business revenues lost due to business interruption, calculated as follows: Using the gross business revenues for 2000 as reported on the company’s federal income tax filing, divided by 250 business days, multiplied by three days. The maximum grant is $10,000.

Q. What if the documentation required for this application were destroyed in the attack? Will I still be able to apply for a grant from this program? A. Yes. An applicant may provide substitute documentation that would verify that the business was in operation in the Eligible Zone as of September 11, 2001, and that it is currently operating in New York State. If the 2000 Federal Income tax filing is missing, the applicant may complete and sign a Tax Information Authorization (Form 8821) and submit it to the Internal Revenue Service. You may obtain this form from the IRS web site at www.irs.gov.

Q. If my retail shop was destroyed in the attack and I have not yet relocated my business, would I still be eligible for a grant under this program? A. Yes. You must complete and return the application form by December 6,2001 with photocopies of your lease or deed for your business premises in the Eligible Zone as of September 11, 2001, and your 2000 Federal income tax return. You must certify on the application form that you will re­ sume operations in New York State.

Q. What if my business is new and I did not file a 2000 Federal income tax return, could I still qualify for a grant under this program? A. Yes, as long as you can show proof that you had an eligible business in the Eligible Zone as of September 11,2001, and are currently inbusiness in NYS. In addition to the required photocopies of your lease(s), you may submit substitute documentation for your Federal income tax return, such as your quarterly NYS sales tax filing, that would indicate gross sales for your business for as many quarters as you have been in operation.

Q. If I am a business owner with two or more eligible businesses, may I apply for a grant for each eligible business from this Grant Program? A. Yes. However, since the fiinds for this Grant Program are limited at this time, only one grant ap­ plied to a single application approval will be disbursed to a business owner who files more than one application. Applications for additional grants in this case will be reviewed, and, if eligible, will be approved after December 31,2001, pending availability of funds.

Q. How long will it take to receive a grant if my application is approved? A. ESDC will use its best efforts to make a determination of the eligibility of an application as soon as possible after receipt of a completed application and disburse funds to eligible businesses within ten (10) business days of grant approval. Incomplete applications will delay the process. Please be sure that your application is complete and you have indicated the appropriate payee name and address to which the check should be issued if the grant is approved. Rev. Nov. 2,01

NYC-WTC_000142439