News & Analysis as of

Gross Receipts Paycheck Protection Program (PPP)

Downs Rachlin Martin PLLC

Restaurant Revitalization Fund Grants for Breweries and Brewpubs

Over the last three weeks, the Small Business Administration (SBA) has posted in its Knowledge Base responses to many questions (i) about the Restaurant Revitalization Fund (RRF) Grant Program (“Program Questions”) and...more

Hinshaw & Culbertson LLP

Restaurant Revitalization Grant Program Provides Grants to a Wide Range of Eligible Entities

President Biden signed into law the American Rescue Plan Act of 2021 (ARP Act) on March 11, 2021. The $1.9 trillion economic recovery package revised the Paycheck Protection Program (PPP) and the Shuttered Venue Operator...more

ArentFox Schiff

Happy Birthday, Employee Retention Tax Credit: Congress’s Gift to Cash-Strapped Employers Extended Through December 31

ArentFox Schiff on

The Employee Retention Tax Credit (“ERTC”) has been expanded and extended further, providing relief to small and large employers affected by COVID-19 business disruptions. As we approach the one-year anniversary of its...more

Williams Mullen

Are PPP Loan Proceeds Gross Receipts for the Purposes of BPOL?

Williams Mullen on

The Virginia Department of Taxation has issued a ruling that addresses the question “does the receipt of a PPP loan and its possible forgiveness constitute gross receipts for purposes of the Business, Professional, and...more

Cooley LLP

Alert: SBA Defines ‘Gross Receipts’ for Second Draw PPP Loans

Cooley LLP on

On January 6, 2021, the Small Business Administration (SBA) issued two interim final rules related to Paycheck Protection Program (PPP) loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. In...more

Proskauer - Tax Talks

Coronavirus: Comparing the Tax Proposals in the HEALS and HEROES Acts

Proskauer - Tax Talks on

On July 27, 2020, Senate Republicans introduced a series of bills and proposals that have been collectively referred to as the “Health, Economic Assistance, Liability Protection and Schools Act” (the “HEALS Act”). The HEALS...more

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