Potential tax on Paycheck Protection Program loans leaves businesses nervous
Read Article SKOWHEGAN — The semiregular 80-hour weeks at the Skowhegan Tire Center feel especially long during the coronavirus pandemic. While the company tries to stay afloat — offering extended hours during storms, for instance — the business was thrown a potential curveball earlier this week. Should the Skowhegan Tire Center have to pay state income taxes on the $110,400 loan it received from the federal Paycheck Protection Program, those long weeks may be colder than ever. “It wou...
Source: sunjournal.com