Senators speak out against Minnesota’s ‘unconscionable’ tax on PPP loans

Walz Tax

“If nothing changes, the state will tax businesses that took PPP loans as income at the corporate tax rate of 9.8%, which could leave a business that received $500,000 in PPP loans with a roughly $50,000 tax bill.  After Minnesota projected a $1.6 billion budget surplus for the next two years, Republicans in a Monday press conference said the state taxing the Paycheck Protection Program (PPP) loans is “unconscionable.”"

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  • Admin 2
    published this page in RIGHT NOW NEWS 2021-03-02 08:07:05 -0600

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