ABOUT THE FUND
For Wyoming ranchers and farmers who have lost revenue due to COVID-19 related public health orders or incurred related expenses
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Timing: Opened November 2, 2020, at 10 AM; Closed November 18, 2020, at 8 PM
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Funding: Up to $250,000; Cannot apply more than one time per fund
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Eligible Entities: Wyoming agricultural producers established as of March 13, 2020
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Eligible time frame: March 13, 2020, to application date
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Total Funding Available: $90 million
BUSINESS ELIGIBILITY
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Has at least one full time (30 or more hours per week) employee; Owner/operator counts as an employee
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Established on or before March 13, 2020
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Headquartered in Wyoming or more than 50 percent of the company’s primary work is located in Wyoming AND at least 60 percent of their employees employed in Wyoming or 60 percent of the business payroll paid to individuals living in Wyoming
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Must have been adversely impacted as a result of the COVID-19 pandemic or as a result of business interruptions due to a required closure or public health order
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“Business Interruption” means any interruption to a business as a result of the COVID-19 health emergency and resulting closures. Interruptions may include those inside and outside Wyoming. These may include, but are not limited to: (A) Supply chain disruptions; (B) Decreased demand for products or services; (C) Required closures; and/or (D) Regulatory requirements that make operating unprofitable.
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Must show lost gross revenue and/or extraordinary COVID-related expenses
QUALIFYING EXPENSES
Agricultural producers are able to include actual expenses incurred in addition to normal operating expenses solely due to the COVID-19 pandemic in these three categories:
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Livestock feed and supplement costs
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Extraordinary expenses actually incurred between March 13, 2020, and the application date for the feeding of only livestock
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Custom hire/labor costs
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Extraordinary expenses actually incurred between March 13, 2020, and the application date for contract work or specialized services physically performed on the agricultural operation. This does not include expenses associated with normal day-to-day operations (i.e. accounting and/or administrative services, lawyers, etc.)
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Fertilizer, chemical, and seed costs
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Extraordinary expenses actually incurred between March 13, 2020, and the application date directly related to the production of crops, protein, and/or fiber
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CALCULATION WORKSHEET
Use this worksheet to help you calculate your Agriculture Fund award amount.
VIDEO TUTORIALS
We've created these helpful video tutorials to help walk you through the application as well as instruct you on how to create a new business profile. Click on the links below to view the videos.
FREQUENTLY ASKED QUESTIONS
What kind of losses is this intended to cover? What does “Lost Business Revenue” mean?
How do I show the loss was related to the COVID-19 pandemic?
How do I calculate gross revenue if I raise sheep and cattle?
Is there an inventory payment for how many acres I own or lease?
What are “COVID-19 Related Expenses” and what expenses am I allowed to claim for the Agriculture Fund?
I haven’t done my bookkeeping yet. Can I make a best guess?
It is highly recommended that you base your application on actual numbers and not projections or guesses. All Business Relief Program fund recipients are potentially subject to audits and should keep detailed records of their calculations.
Do I add my off-farm income to my gross revenue?
Is there a step by step guide on how to apply?
Why is the Agriculture Fund closing on November 18, 2020?
Will these funds have to be paid back?
Who can I contact for help?
Are government entities eligible?
No, governmental or government-owned entities are not eligible to apply for the Agriculture or Endurance Funds. This includes tribal government-owned businesses.
Can I apply multiple times?
No. The Agriculture and Endurance Funds are mutually exclusive and you are only allowed one application based on your entity type (agricultural producer, business or nonprofit). You can apply for one or the other of these funds but not both and the maximum you can apply for is $250,000.
I received funding from the Interruption, Relief, and/or Mitigation Funds. Can I apply for this Fund too?
Yes, you are eligible to apply for these funds if you have COVID-related losses or expenses since your previous application date; however, you are only allowed to apply one time and cannot apply for BOTH the Agriculture Fund and Endurance Fund. Be sure to include any previous payments as well as other federal CARES Act grant funds received in your application. Those funds will be deducted from this fund’s total award amount.
If approved, how will I receive my money?
Businesses or nonprofits that are already set up in the state Vendor Management System will receive their award via an electronic funds transfer; all other businesses/nonprofits not in the system will receive a check sent via certified mail from the State Auditor's Office to the mailing address listed on their application.
All applicants receiving funding under any of the Wyoming Business Relief programs will have their name (or business name) and the amount of any award(s) received listed on the Wyoming State Auditor's transparency website at wyopen.gov/wbc.
All funds received under the Wyoming Business Relief Program must be reported as taxable income on your next federal tax filing and the State Auditor's Office will mail out appropriate tax documentation. Applicants are encouraged to work with a qualified accountant to determine how funds awarded under this program affect their tax situation; the Wyoming Business Council cannot advise you on tax or business matters.
How do I apply?
Applications must be completed and submitted online using this website.
How do I know my application was submitted?
After you submit your application, you will receive an email confirming the successful submission and a unique application number. Throughout the review process, you will receive multiple emails from the Wyoming Business Council. Please be sure to check your SPAM filters to make sure you are receiving this important correspondence.
How long will it take to know if my application is approved and to receive funding?
Timing to receive funding after approval depends on a number of factors; however, most applicants should receive their funds within 21 business days from start of their review date.
If my application is denied, is there an appeal process?
Yes, applicants must first notify the Wyoming Business Council of their intent to appeal via email at wbc.brp@wyo.gov within FIVE (5) calendar days of the application denial date.
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After FIVE (5) calendar days the application will no longer be eligible for funding. -
Denied applications may appeal with a typed summary of business’ activities, history, industry, etc. plus one or more of the following documentation: -
Tax Return forms filed with the IRS; (B) Schedule C of IRS form 1040, Schedule F of IRS form 1040, any other form necessary to establish a business’ existence -
Documentation of EIN from IRS
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Failure to submit the aforementioned documentation within FIVE (5) calendar days will result in denial of the application. -
Any eligible business found using multiple methods (EIN and SSN) to apply for numerous awards may be denied any or all applications at the Business Council’s sole discretion. -
The approval or denial determination of the Business Council is final.
If I receive funding will I be audited?
All COVID-19 Business Relief Program recipients should be prepared to be audited. The Business Council has contracted with MHP, LLP of Cheyenne to conduct third-party financial audits on businesses that received funds through the COVID-19 Business Relief Program.
What CARES Act funds do I need to include in my application and why?
Because the Agriculture and Endurance Funds are money directed to the State of Wyoming through the CARES Act, we must account for any other CARES Act money you have received in order to ensure there is not "double dipping" of these funds. Depending on your business or entity type, you may have received the following funds and must report them on your application. We have provided a worksheet to help you with these calculations.
What forms or additional information do I need to complete my application or verify my business?
Is there a minimum or maximum number of full-time employees required to apply for the Agriculture Fund?
How will I hear from the State of Wyoming regarding my application?
What is "Gross Revenue?"
Gross revenue is the total amount of sales recognized for a reporting period, prior to any deductions. This figure indicates the ability of a business to sell goods and services, but not its ability to generate a profit. Deductions from gross revenue include sales discounts and sales returns. When these deductions are netted against gross revenue, the aggregate amount is referred to as net revenue or net sales. Gross Revenue is found at the top of your income statement.
When do these funds need to be spent, what can they be spent on and will reporting be required?
There is no requirement on when funds need to be spent and they should be used as you would typically use business income. No reporting is required; however, all award recipients are subject to audits.
Are these grant funds considered taxable income?
Yes, any funds received through the Business Relief Program are considered taxable income and will need to be claimed on your 2020 tax return. The State Auditor’s Office will issue all fund recipients a 1099 Form for “Miscellaneous Income“.
If I apply for CFAP2, how do I account for that in your calculation?
We recommend you use your best estimate of what you anticipate receiving (usually approximately 75% of request).
If we were not able to sell a product, like wool, does that count, even though we still have it?
We want to compare 2019 and 2020 on an equal playing field. If you were unable to sell in 2020, but did in 2019, please reduce the income in 2019 by the amount generated on that sale to have an accurate comparison. Additional expenses for having to hold the product longer than a "normal" year could possibly be included in the expenses if the additional expenses fit within the specific categories.
Who does the Agriculture Fund cover?
This fund ONLY covers farmers or ranchers who produce a crop, protein or fiber. (Backgrounders and feeders should consider themselves production agriculture and apply for this fund.)
All other agricultural businesses should apply under the Endurance Fund.
If we were not able to sell a product, like wool or our feeder cattle, does that count even if we still have it?
We want to compare 2019 and 2020 on an equal playing field. If you were unable to sell in 2020, but did in 2019, please reduce the income in 2019 by the amount generated on that sale to have an accurate comparison. Additional expenses for having to hold the product longer than a "normal" year could possibly be included in the expenses if the additional expenses fit within the specific categories.
In 2019 I sold my crops in January, not between March and November, like you're asking me to use for comparison figures. Can I still use those sales figures for comparison even though they don't fall into the exact dates requested?
Yes, if you can reasonably document the difference in 2019 and 2020 revenues by counting sales in 2019 that occurred outside the March 13 - November 2, 2019 window (simply because that's when you sold your crop or livestock), that is allowable.
Is the information I submit in my application a matter of public record?