Sample Small Business Tax Breaks 2021

What is happening? California has approved allowing small business to receive a tax credit for their PPP funds. Unlike the federal tax help, California’s won’t apply to every business, it only applies if the business can show a loss of 25% or more during a three month period.

Why is this important? California passed bipartisan tax relief.

How will this be important? States are grappling with how to handle PPP funds, how to apply tax breaks, and how to fill in state lost revenue.

CBS San Diego | California Legislature OK’s Tax Break for Small Businesses