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2023 SESSION

• | print version

SB 950 Income tax, state and corporate; Paycheck Protection Program loans.

Introduced by: J. Chapman Petersen | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Taxable income; Paycheck Protection Program loans. Allows an individual and corporate income tax deduction or subtraction, as applicable, for any amount of business expenses funded by forgiven Paycheck Protection Program (PPP) loan proceeds that are paid or incurred prior to taxable year 2023. Under current law, the allowable amount that may be deducted or subtracted is limited to $100,000 of business expenses funded by forgiven PPP loan proceeds paid or incurred prior to taxable year 2021.

FULL TEXT

• 01/06/23  Senate: Prefiled and ordered printed; offered 01/11/23 23102248D  pdf | impact statement

HISTORY

• 01/06/23  Senate: Prefiled and ordered printed; offered 01/11/23 23102248D
• 01/06/23  Senate: Referred to Committee on Finance and Appropriations
• 01/25/23  Senate: Passed by indefinitely in Finance and Appropriations (9-Y 4-N)