(Updated July 16, 2021)
If you’ve received a Paycheck Protection Program (PPP) loan, you may now be planning to file your 2020 tax returns. The answer as to whether the loan amount is viewed as income and whether it can be deducted varies by state, and deductibility can be a source of confusion.
To provide clarity and help you plan accordingly, we’ve created a state-by-state table showing the tax implications of PPP loans.
