News & Analysis as of

Loan Forgiveness State and Local Government

McDermott+

Trump Administration Executive Order Tracker

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Below is a tracker of healthcare-related executive orders (EOs) issued by the Trump administration, including overviews of each EO and the date each EO was signed. We will regularly update this tracker as additional EOs are...more

McGuireWoods Consulting

NC Politics in the News - October 2022

Agriculture - THE CENTER SQUARE: North Carolina lawmakers hold hearing about right-to-repair issues with farm equipment - Farm equipment dealers, farmers, lawmakers and others testified on Wednesday about various...more

Schwabe, Williamson & Wyatt PC

New Oregon Brownfield Loan Program to Watch

Revitalizing Brownfields has long been considered a centerpiece for community efforts to encourage growth and development of properties impacted by contamination.  In 2021, Oregon’s Legislature passed HB 2518, which seeks to...more

Ervin Cohen & Jessup LLP

California Assembly Bill No. 80: Tax Treatment of Forgiven Paycheck Protection Program Loans

Our previous articles have summarized the Paycheck Protection Program (“PPP”) created under the Federal CARES Act: CARES Act: Paycheck Protection Program Loans, CARES Act: Loan Applications, CARES Act: Loan Forgiveness...more

Sheppard Mullin Richter & Hampton LLP

California Conforms To Federal Income Tax Treatment Of PPP Loan Forgiveness

As reported in our earlier blog post The CARES ACT – Tax Relief, the federal CARES Act provides for forgiveness of indebtedness for eligible recipients of Paycheck Protection Program (“PPP”) loans in an amount equal to the...more

Farrell Fritz, P.C.

Forget Congress: The IRS Needs To Reverse Course On The Deduction Of Business Expenses Paid With PPP Loan Proceeds

Farrell Fritz, P.C. on

Round Two- “Painful social lockdowns in Europe and some American states helped blunt the coronavirus. Now, amid a fitful reopening, the pandemic is once again surging.” So begins an article on the front page of last...more

Buckingham, Doolittle & Burroughs, LLC

PPP loan forgiveness will not result in increased Ohio commercial activity taxes

To provide some taxpayer relief in the wake of COVID-19, Ohio is excluding forgiven PPP loan amounts from Ohio’s commercial activity tax (CAT). While generally debt forgiveness is treated as taxable gross receipts for CAT...more

Fox Rothschild LLP

COVID-19 Legal Developments Affecting New York Employers

Fox Rothschild LLP on

Legal requirements for employers continue to proliferate and change in response to the COVID-19 pandemic. New York businesses should be mindful of three recent developments regarding employee leaves of absence and Paycheck...more

Schwabe, Williamson & Wyatt PC

SBA Issues Additional PPP Rules on Effect of State and Local COVID-19 Orders and Other Items on Loan Forgiveness

The Small Business Administration (“SBA”) issued another Interim Final Rule (SBA-2020-0038) on June 22, 2020 (“IFR”) clarifying certain issues surrounding the forgiveness of Paycheck Protection Program (“PPP”) loans. For the...more

Bass, Berry & Sims PLC

Tennessee Governor and Department of Revenue Announce the Tennessee Business Relief Program

Bass, Berry & Sims PLC on

On June 2, Tennessee Governor Bill Lee announced the Tennessee Business Relief Program (Business Relief Program) aimed at helping small businesses during the COVID-19 pandemic. The Business Relief Program will be managed by...more

Akin Gump Strauss Hauer & Feld LLP

What's New in Washington - June 2020

The post-Memorial Day summer session has begun in Washington with the House and Senate facing a similar to-do list but with different approaches and philosophies. The main items on the summer agenda include the Phase 4...more

Lowenstein Sandler LLP

FAQs on Pandemic-Related Issues for Small Businesses and Nonprofits

This resource was prepared by Lowenstein Sandler for informational purposes only. It is not intended to give, and should not be relied upon for, legal advice in any particular circumstance or fact situation. Use of this...more

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