10-Jun-2021 3:49pm
10-Jun-2021 5:40pm
SECTION 1. It is the intent of the Legislature to enact legislation that would bring California’s tax treatment of covered Paycheck Protection Program loans into conformity with federal tax laws.
13-Jun-2021 8:18pm
dave829 wrote:AB 281 was not intended to make expenses related to forgiven PPP loans deductible. It was only an “intent of the Legislature” bill:SECTION 1. It is the intent of the Legislature to enact legislation that would bring California’s tax treatment of covered Paycheck Protection Program loans into conformity with federal tax laws.
It never passed. AB 80 was introduced, and it became the California law that outlined California taxation of PPP loans and related expenses.
14-Jun-2021 9:49am