Wisconsin businesses taking advantage of the federal Paycheck Protection Program would be able to deduct expenses funded with forgiven loans as a result of 2021 Wisconsin Act 1.
The Wisconsin Department of Revenue (DOR) recently listed on its website the state programs that made such grants and the purposes for which they were made. Grant recipients who are unsure whether their grant is from a state program should contact the designated agency.
An individual who received a cash grant may not exclude the amount from household income when computing their homestead credit.