Nixon Peabody
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Our View: Time to get California in line with federal tax rules

By   /   Friday, April 23rd, 2021  /   No Comments

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California’s outrageous exceptionalism when it comes to taxing small business threatens the survival of thousands of mom and pop stores and other enterprises that have received federal Paycheck Protection Program funding. Under the state’s rules, forgiveness for PPP loans does not eliminate their tax consequences for small firms — in contrast to IRS rules that…


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