It’s a better week for the construction industry in Pennsylvania. On Monday, Gov. Wolf announced construction could resume on May 8th. On Wednesday, Gov. Wolf announced that the date has been moved to May 1st. This news brings much relief during the unprecedented closure of businesses during the COVID-19 pandemic. PennLive.com reported that “specifics were not immediately available regarding what guidelines and practices will need to be followed” by the construction industry.
The CDC lists the following items are required for businesses to reopen. Keep in mind this list does not include requirements from state and local government officials.
- Social distancing and protective equipment
- Temperature checks
- Use and disinfection of common and high-traffic areas
Businesses will also need to monitor their workforce for indicative symptoms. Symptomatic people should not be permitted to physically return to work until cleared by a medical provider. Businesses will also be required to develop and implement policies and procedures for workforce contact tracing following employee COVID+ test.
Monitor Estimated Tax Requirements
As we wait for standards to be released by state officials for construction to begin, some workplace requirements may cause a drop in profitability due to additional expenses. We recommend all businesses continue to monitor any estimated tax payments. Loss of production as well as additional cost incurred to comply with new guidelines may change your estimated payment. You will need to know what impact the requirements and additional costs will have on your business. We recommend creating a good tax strategy now, instead of waiting for year end. Keep cash in your pocket, as cash flow is very important.
As always, we are here to help. If you do not have the office personnel necessary to help you keep track of your costs, we are available to discuss ways to help with back office support.
DISCLAIMER: The WM Daily Update COVID-19, COVID-19 Business Resources and COVID-19 Client News Alerts and other related communications are intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.