MN State Republicans Working To Prevent Taxing Paycheck Protection Program

The chair of the House Tax Committee says the state is benefiting from nine billion dollars from the programs and it is looking to do more to protect small business owners.

ST. PAUL, Minn. — Minnesota House Republicans are introducing new legislation that would prevent the state government from taxing money from the paycheck protection program.

State Representative Paul Marquart of Dilworth says the bill may not even be needed after a talk with the Department Of Revenue.

He says the department is clarifying guidelines on what can and cannot be taxed in the funds.

The chair of the House Tax Committee says the state is benefiting from nine billion dollars from the programs and it is looking to do more to protect small business owners.

“The short answer is yes we want to do things to make sure that businesses and individuals are protected from tax increases through the federal stimulus bills,” Marquart said.

 

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