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Idaho Bill Would Exclude Forgiven Small-Biz Virus Loans From Tax
By Jaqueline McCool
· 2021-03-01 12:33:32 -0500
Idaho would exclude from state income federal assistance and forgiven federal small-business loan amounts granted as a response to the novel coronavirus pandemic under a bill introduced in the state House of Representatives.
H.B. 251, which the Revenue and Taxation Committee introduced Thursday, would exclude amounts granted under the C
oronavirus Aid, Relief and Economic Security Act ![](//www.law360.com/images/lexis_advance/kb-icon-red.png)
along with forgiven Paycheck Protection Loan amounts from state income.
If enacted, the bill would take retroactive effect beginning Jan. 1, 2021.
--Editing by Vincent Sherry.
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