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Business & farm
Are you referring to the $1,000 per employee with a cap of $10,000 EIDL grant? The Consolidated Appropriations Act states:
An eligible entity, after submitting a request to the SBA, shall receive $1,000 per employee or a cap of $10,000. You do not need to repay these grants.
These funds are not reported as taxable business income on your tax return. Refer to your state for taxability on the state tax return.
This article refers to state taxability of PPP funds which may or may not be treated the same as the EIDL grant.
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March 28, 2021
11:35 AM