NJ Spotlight News
PPP loans will be tax exempt for the 2020 tax year
Clip: 2/10/2021 | 2m 35sVideo has Closed Captions
The state is following the lead of the federal government by not taxing PPP loan proceeds.
The Murphy Administration has decided that PPP loans will be tax exempt at the state level for the 2020 tax year. On top of that, businesses will be allowed to deduct expenses that were paid with the PPP loan proceeds.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
PPP loans will be tax exempt for the 2020 tax year
Clip: 2/10/2021 | 2m 35sVideo has Closed Captions
The Murphy Administration has decided that PPP loans will be tax exempt at the state level for the 2020 tax year. On top of that, businesses will be allowed to deduct expenses that were paid with the PPP loan proceeds.
Problems playing video? | Closed Captioning Feedback
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS