More states are tax-exempt for PPP loans as budgets improve



New Hampshire is the latest state to exempt forgiven Paycheck Loans from corporate taxes, thanks in part to a recent federal aid package.

Federal law ultimately allows most loans to be forgiven and deducted from corporate taxes – a move designed to spur the economy during a pandemic-triggered recession.

New Hampshire became the 11th state to opt out of loans after Governor Chris Sununu (right) signed the State Senate Bill (SB 3) Thursday. This follows Vermont, which passed a federal-compliant bill in April, shortly before the Treasury. states are allowed to cover …


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