No Deduction in California for Expenditures Paid with Forgiven PPP Funds
RogerRossmeisl
DECEMBER 24, 2020
With the prospect that ordinarily tax deductible business expenses will still be deductible if they were paid for with forgiven PPP loan funds contained in the Coronavirus Response and Relief Supplemental Appropriations Act, 2021, attention turns to the California treatment of same. The answer is that California currently does not conform to the federal amendment to this law contained in the new stimulus bill.
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