NH Bill Seeks To Exclude Forgiven PPP Loans From Tax

New Hampshire would exclude forgiven federal loan amounts granted to small businesses as a response to the novel coronavirus pandemic from state business profits tax under a bill introduced in the state Senate.

S.B. 3, which Sen. Jeb Bradley, R-Wolfeboro, introduced Wednesday, would exclude forgiven Paycheck Protection Program loan amounts granted to small businesses under the Coronavirus Aid, Relief and Economic Security Act from business profits tax.

If enacted, the bill would take immediate effect.

--Editing by Vincent Sherry.

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