Recommendations for Sustained Financial Losses Due to Federal Immigration Enforcement
The City of Minneapolis recommends that if your business has sustained financial losses, below are some steps that may be valuable:
Document the financial impacts. For example, keep track of:
Days your businesses was closed, or had reduced hours.
Sales records, with comparisons to prior years as possible.
Inventory losses, e.g. perishables.
Call your insurance company to check your coverage for business interruption. Not all policies will include business interruption coverage, and policies vary for eligible situations.
Contact the Minnesota Department of Commerce if you have questions about your policy. You can email them or call 651-539-1600.
Reach out to your lenders, suppliers, and, if you rent your space, the property owner for your location. You may be able to negotiate temporary changes to your terms of payment.
If you expect to be late sending sales taxes, reach out to the Department of Revenue. While taxes themselves cannot be waived, you may be able to adjust your filing schedule or request a late fee abatement.