Minnesota Department of Revenue Hopes To Handle PPP Loan Refunds Administratively

Date: August 18, 2021

If you received a PPP loan and went ahead and filed your taxes timely, make sure to read the link below. The Minnesota Department of Revenue was hoping to make administrative adjustments on many of these returns, and hopefully you can avoid re-filing. Importantly, the state will contact small business owners either way regarding the administrative adjustment or the need to amend your filing. As you likely know, the legislature passed legislation on June 30th to make all PPP loans nontaxable. NFIB strongly supported this legislation.

You can read more about the bill and its consequences here.

 

Related Content: Small Business News | Minnesota

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