Page 3 - காங்கிரஸ் சீட்டுகள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To embed, copy and paste the code into your website or blog: Maine Governor Janet Mills submitted a supplemental budget, as amended by a change package submitted on January 25, 2021. The supplemental budget is notable for its retroactive conformity to the Internal Revenue Code (IRC) as of December 31, 2020, and for its nonconformity to significant tax relief provisions enacted as part of the CARES Act and the Consolidated Appropriations Act, 2021 (CAA). Of particular significance, the supplemental budget would decouple from the portion of these federal laws that excludes the forgiven portion of a Paycheck Protection Program (PPP) loan from a taxpayer’s federal taxable income and allows an otherwise available deduction for business expenses paid with forgiven loan proceeds. Our recent client alert, Congress Passes New and Additional Business, Tax Relief Measures in COVID-19 Stimulus Bill, provides further analysis of the CAA.

United statesPaycheck protection programCongress passesPierce atwoodGovernor janet millsInternal revenue codeConsolidated appropriations actCongress passes newAdditional businessTax relief measuresExcess business loss limitation deferralTax cutsJobs actInterest expense limitation increaseMaine capital investmentMaine capital investment credit