You are right. Here is an excellent article dealing with this issue. https://rsmus.com/what-we-do/services/tax/state-and-local-tax/income-and-franchise/ppp-forgiveness-a... "At first glance, determining whether debt forgiveness under the CARES Act is taxable in a state seems straightforward. In the 21 states and the District of Columbia that have rolling conformity to the Internal Revenue Code (IRC) the forgiven loans will likely not be subject to tax." The 21 States are Arizona, Florida, Georgia, Hawaii, Idaho, Indiana, Iowa, Kentucky, Maine, Michigan, Minnesota, New Hampshire, North Carolina, Ohio, Oregon, South Carolina, Texas, Vermont, Virginia, West Virginia and Wisconsin.
