Previous News Updates

March 5th

Join us at Slurpz for this informative Breakfast meeting. Laura recently spoke at the January WOW event and shared what is going on with Human Trafficking in our area and how we can help fight this horrible crime.

Make sure and register by clicking on the flyer or scanning the QR code

March 2nd

Come celebrate Smokin' Cowboy's Grand-Opening and Ribbon Cutting in Wellington at 7840 6th Street. Limited parking. Carpooling is encouraged or parking across the street at nearby businesses.

Make sure and register with the QR code or click on the flyer.

March 8th

Join us for the Ribbon Cutting and Grand opening at Grease Monkey in Wellington at 8201 Wellington BLVD.

Make sure and register with the barcode or click on the flyer.

Wellington Chamber Members save 20% at Grease Monkey!

Boots to Business:Reboot

Calling all veterans, spouses of veterans and family members who are interested in entrepreneurship. Join us on Feb. 26 from 8:00 - 4:00 for an engaged workshop to learn what it takes to start a business.  

Register Here

Tech Venture Accelerator for Women

TVXW is a 10-part virtual cohort series designed to help women entrepreneurs* in emerging companies in Colorado’s advanced industries to overcome hurdles in order to accelerate growth and development. The format, topics and tangible assistance the program offers was developed from success working with early- and second-stage science and technology ventures for more than 10 years. TVXW focuses on growth through non-dilutive capital sources (so you aren’t giving away any equity in your company) and technology commercialization.

Starts March 7, 2024

More Information

New Federal Reporting Requirement for Beneficial Ownership Information (BOI) Training

Corporate Transparency: Beneficial Ownership and the Federal Filing

Starting January 1, 2024, companies are required to submit reports on ownership to the Financial Crimes Enforcement Network. We will be going over what information is required, how to know if your company is ready, and your timelines for filing.

February 28, 2024

Register Online

Tech Venture Accelerator for Women

TVXW is a 10-part virtual cohort series designed to help women entrepreneurs* in emerging companies in Colorado’s advanced industries to overcome hurdles in order to accelerate growth and development. The format, topics and tangible assistance the program offers was developed from success working with early- and second-stage science and technology ventures for more than 10 years. TVXW focuses on growth through non-dilutive capital sources (so you aren’t giving away any equity in your company) and technology commercialization.

Starts March 7, 2024

More Information

New Federal Reporting Requirement for Beneficial Ownership Information (BOI)

As of January 1, 2024, many companies in the United States now have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company. They will have to report the information to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury. 

Who Has to Report?

Companies required to report are called reporting companies. Reporting companies may have to obtain information from their beneficial owners and report that

information to FinCEN. 

When Do I Report?

Reports are being accepted as of January 1, 2024.

• If your company was created or registered prior to January 1, 2024, you have until January 1, 2025, to report BOI.
• If your company was created or registered on or after January 1, 2024, and before January 1, 2025, you must report BOI within 90 calendar days after receiving actual or public notice that your company’s creation or registration is effective, whichever is earlier.
• If your company was created or registered on or after January 1, 2025, you must file BOI within 30 calendar days after receiving actual or public notice that its creation or registration is effective.
• Any updates or corrections to beneficial ownership information that you previously filed with FinCEN must be submitted within 30 days.

Learn More

The Colorado Department of Revenue has created the following wage withholding tax forms to help employers meet the new requirement of House Bill 23-1006.

DR 0995, Notice of Federal and State Refundable Tax Credits. This form provides the notice language that employers must provide to employees who receive a Colorado wage and tax statement (form W-2). Beginning with tax year 2023, employers must provide this language annually to each employee, either electronically or by print.

The Department has also updated the following wage withholding tax forms to account for changes to federal income tax deductions and to the Colorado Child Tax Credit in House Bill 23-1112.

• DR 0004, Colorado Employee Withholding Certificate. This form gives employees the option to adjust their Colorado wage withholding according to their specific tax situation. If an employee does not submit this form, the employer will calculate their withholding based on their federal withholding certificate, form W-4. Employees may update their withholding certificate for 2024, but they are not required to.
• DR 1098, Colorado Withholding Worksheet for Employers. This worksheet prescribes the method for employers to calculate Colorado wage withholding, based on the employee’s Colorado form DR 0004 or federal form W-4. Employers must begin using the updated calculation for pay periods beginning on or after January 1, 2024. 

For additional information and resources regarding Colorado withholding, go to Tax.Colorado.gov/Withholding-Tax.

U.S. Small Business Administration

Notice to PPP and COVID EIDL Borrowers in Default 

The U.S. Small Business Administration will begin referring defaulted PPP and COVID EIDL borrowers with loans under $100,000 to the U.S. Treasury Department and the Internal Revenue Service for collection beginning March 4, 2024.

What does this mean? 

Small business borrowers who are referred to Treasury and IRS for collection may face significant consequences, including: 

• Negative impact on credit scores; 
• Withholding of future state and federal tax refunds and any potential federal government funding (such as social security); and,
• Referral of your loan to private debt collectors to pursue repayment, who may use tactics like wage garnishment.   

What can borrowers do? 

If you have a PPP loan under $100,000, follow the instructions at www.sba.gov/PPPForgiveness to complete your PPP forgiveness application by March 3, 2024. If your lender is not participating in the SBA direct forgiveness portal, you will need to contact them directly. You can find a list of participating in the SBA direct forgiveness portal here.

If you have a COVID EIDL loan under $100,000, visit Manage your EIDL at SBA.gov.

Need assistance? Contact SBA at 877-552-2692.

This communication is not intended to collect outstanding debts from individuals or entities currently undergoing bankruptcy proceedings.