MAIA Fought for PPP Loan Tax Relief and Now It’s Law
It’s official. Independent insurance agencies and other small businesses operating as pass-through entities will NOT have to pay MA taxes on forgiven PPP loans received during COVID-19. MAIA advocated strongly for this provision, and Governor Baker signed it into law on Thursday, April 1st as part of the larger unemployment insurance bill. Another legislative victory brought to you by the members and partners who support of MAIA’s advocacy efforts each year! We are all in this together.
MAIA Advocates for Exclusion of PPP Loans from Taxable Income, The MassAgent, February 25, 2021