New PPP Legislation Proposed

Exciting news, legislation was proposed for #California to conform to federal law allowing the deduction of expenses paid with forgiven #PPP amounts.

If you were not aware, the recent stimulus package allowed the #IncomeTaxdeduction of such expenses for federal purposes ONLY. Meaning, California companies would likely be in an unfavorable tax position for 2020.

If you support this legislation, contact your legislator and let them know of your opinion. You can find your representative at https://lnkd.in/duYvAuy