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Do i consider myself an employee for the state of california if i am an indepentdent contractor

under adjustments for california state taxes i am trying to figure out what to put since i had a ppp loan that was forgiven as  an independent contractor
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1 Reply
MonikaK1
Expert Alumni

Do i consider myself an employee for the state of california if i am an indepentdent contractor

According to the Franchise Tax Board, For California purposes, forgiven PPP loans, SVO grants, and RRF grants are excluded from gross income. On September 29, 2022, AB 158 was enacted to add an operative date of January 1, 2019 for the PPPEA to ensure taxpayers that had loans made during PPPEA would be eligible for the income exclusion and other applicable tax treatment.

 

See here for further details.

 

If the loan forgiveness was excluded on the Federal return, it doesn't need to be adjusted on the California return.

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