PPP expenses: deductible for federal tax purposes, but what about the states?
By: Dean Dorton | February 17, 2021
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When Paycheck Protection Program (PPP) loans were initially introduced, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made clear that loan proceeds would not be treated as gross income on federal income tax returns.
2021 Spring Edition | COVID-19 | COVID-19 SBA Loan Programs | News & Views | Tax