“We urge the Legislature to quickly pass PPP tax conformity because many are preparing their taxes now"

SACRAMENTO, CA (MPG) - “Our state leaders have taken some notable steps in the right direction toward recovery by wisely using some of the state’s revenue surplus on expanding small-business grants and waiving occupational license fees. Now, two more things would give our state’s leading job creators a huge boost: conforming state tax laws to the federal government’s on PPP loans and providing small-business owners some liability protection against unfair COVID lawsuits. 

“We urge the Legislature to quickly pass PPP tax conformity because many are preparing their taxes now. Both the federal government, in this administration and the prior one, and our state government, have moved the needle in the right direction to make access to capital more plentiful, but now we need to also allay the fears small-business owners have with getting hit with a lawsuit.” 

According to the governor’s news release, the package he signed today, “Provides $2.1 billion for grants … up to $25,000 for small businesses impacted by the pandemic, and allocates $50 million of this total for non-profit cultural institutions. And it also provides, “Two years of fee relief for roughly 59,000 restaurants and bars licensed through the state’s Department of Alcoholic Beverage Control that can range annually from $455 to $1,235. The action also reflects fee relief for more than 600,000 barbering and cosmetology individuals and businesses licensed through the Department of Consumer Affairs.”

Keep up with the latest on California small-business news at www.nfib.com/california, where this release can also be read, or by following NFIB on Twitter @NFIB_CA or on Facebook @NFIB.CA.

For more than 77 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.