Federal employees get a paid holiday, banks and financial institutions are closed, federal government offices and post offices are closed.

Private companies and state and local governments can make their own choices about whether to be open / closed / allow days off. I live in the south in about a 50% black area and most of our businesses are either closed or giving the people the option to take it off -- many did this even before Biden's declaration.

Also many companies give X paid holidays per year, then allow you to choose which ones you use them for to an extent. I usually work Christmas so I get two paid ones I use for a regional holiday plus an extra floating day off.