PPP Loan Taxes: What You Should Know

APPLE VALLEY CHAMBER NOTE: PPP forgiveness will be critical for so many of our businesses and Dec. 2020 federal legislation makes it not taxable and allows deductions. Minnesota however does not follow federal “conformity” and unless our Legislature acts soon, it may soon require MN Taxes on PPP. We want you to be aware and act to our legislators if you care to make an impact.

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