My small business is in financial difficulty.
I have only one employee and I must reduce expenses.
Concern is that she is pregnate.

Only reason for the layoff is to save the business form it's continious negative cash flow.

Am I required to give any notice?
Am I rerquired to give any severance?

No, neither one. You cannot treat a pregnant employee differently than you can a nonpregnant employee, but neither do you have to continue her employment if you would have terminated her had she NOT been pregnant.

Severance is not required by law, but it might make her less likely to cry "pregnancy discrimination".