GOVERNMENT

Lawmaker proposes bill aimed at helping small business owners deal with PPP taxes

Mar 3, 2021, 5:38 AM
utah state capitol critical race theory debate transgender girls sports...
(Utah State Capitol complex. Paul Nelson, file)
(Utah State Capitol complex. Paul Nelson, file)

SALT LAKE CITY – Some small business owners in Utah are getting some unexpected tax bills connected to their use of Payroll Protection Program money from the federal government.  One lawmaker is proposing a bill that would create grants to help business owners with these expenses.  

District 32 Representative Suzanne Harrison says some small business owners are telling her how surprised they were when they went to file their state taxes.  She says PPP loans were not going to be considered as taxable income for federal taxes, however, she says the state looks at those loans a different way.

“Utah currently plans to treat the forgiven loans as taxable income,” Harrison says.  “Businesses that received up to $150 thousand in federal Paycheck Protection Program loan forgiveness are now getting unexpected tax bills from the state.”

She’s promoting House Bill 445, which would create grants of up to five thousand dollars to help business owners pay their state taxes.  However, she says the grants would only go toward employers that accepted no more than $150 thousand in federal money.  Plus, it would only go to business owners that went through an economic downturn during the year.

Harrison says, “You would have to have seen a loss in revenue of 25% from 2019 to 2020.  So, we’re really trying to target those struggling, small businesses.”

Harrison acknowledges that time is quickly running out on the 2021 legislative session, so she has doubts that her bill would be considered before Friday.  However, she would like to bring the bill back for discussion during a special session.

“It looks like it’s not going to be addressed this year,” she says.

Today’s Top Stories

Government

Former astronaut and Utah Sen. Jake Garn will be honored Saturday with an art installation tribute ...
Mark Jones

Former Utah Sen. Jake Garn to be honored with art tribute on Saturday

Former Utah Sen. Jake Garn will be honored with an art installation tribute Saturday at the Salt Lake City International Airport.
2 days ago
President John F. Kennedy signs the Mental Retardation Facilities and Community Mental Health Cente...
Curt Gresseth

Is forcing the homeless into treatment the answer?

NYC Mayor Eric Adams has announced a program that involuntarily treats homeless people in "psychiatric crisis." A BYU psychologist weighs the New York approach against the ethics of patient autonomy.
2 days ago
File photo: Soldiers from the Utah National Guard prepare to depart Roland R. Wright Air National G...
Amie Schaeffer

Utah Air National Guard Airman dies during routine deployment

An airman from the Utah National Guard passed away from undisclosed medical issues while deployed in Guam on Nov. 29.
3 days ago
Former Salt Lake City Mayor Rocky Anderson wants his old job back. ...
Mark Jones

Rocky Anderson announces bid to run for SLC mayor in 2023

Former Salt Lake City Mayor Rocky Anderson announced Wednesday that he is seeking reelection to get his old job back.
4 days ago
Former Vice President Mike Pence is seen here with audience members after appearing at at CNN town ...
Veronica Stracqualursi, CNN

Pence says Trump was ‘wrong’ for dinner with Holocaust denier

Former Vice President Mike Pence says former President Donald Trump was wrong for having dinner with a Holocaust denier and should apologize for it.
5 days ago
FILE - A Montana man was sentenced to three years in prison for his role in the Capitol riot. (AP P...
The Associated Press

Montana man gets 3 years in prison for role in Capitol riot

A Montana man will spend three years in federal prison for his role in the Jan. 6, 2021, riot at the U.S Capitol.
9 days ago

Sponsored Articles

Spicy Homemade Loaded Taters Tots...
Macey's

5 game day snacks for the whole family (with recipes!)

Try these game day snacks to make watching football at home with your family feel like a special occasion. 
Happy joyful smiling casual satisfied woman learning and communicates in sign language online using...
Sorenson

The best tools for Deaf and hard-of-hearing workplace success

Here are some of the best resources to make your workplace work better for Deaf and hard-of-hearing employees.
Team supporters celebrating at a tailgate party...
Macey's

8 Delicious Tailgate Foods That Require Zero Prep Work

In a hurry? These 8 tailgate foods take zero prep work, so you can fuel up and get back to what matters most: getting hyped for your favorite
christmas decorations candles in glass jars with fir on a old wooden table...
Western Nut Company

12 Mason Jar Gift Ideas for the 12 Days of Christmas [with recipes!]

There are so many clever mason jar gift ideas to give something thoughtful to your neighbors or friends. Read our 12 ideas to make your own!
wide shot of Bear Lake with a person on a stand up paddle board...

Pack your bags! Extended stays at Bear Lake await you

Work from here! Read our tips to prepare for your extended stay, whether at Bear Lake or somewhere else nearby.
young boy with hearing aid...
Sorenson

Accommodations for students who are deaf and hard of hearing

These different types of accommodations for students who are deaf and hard of hearing can help them succeed in school.
Lawmaker proposes bill aimed at helping small business owners deal with PPP taxes