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Covid19 Business Grant

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    Covid19 Business Grant

    Our local county government received CARES Act funding. This funding in part was used to provide small business grants. My question is, is the grant received taxable business income to the small businesses who received it?

    #2
    Yes, unless it's specifically excluded by law, for federal taxation. Your state or local tax authorities might exempt it, so do your due diligence. Start by reading the grant documents.

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