California Medical Association announces support of bill allowing physicians to deduct PPP expenses - State of Reform

California Medical Association announces support of bill allowing physicians to deduct PPP expenses
Sydney Kurle | Mar 5, 2021
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This bill was introduced by Assemblymember Autumn Burke and would allow companies who received PPP loans to deduct up to $150,000 in expenses that were paid for by these loans. Businesses that took out loans of $150,000 or less will be able to maximize their deduction for state purposes. 
According to the Small Business Administration, just over 87% of physician practices who received PPP loans received a loan of $150,000 or less and would be eligible for this deduction. 
The CMA, in a previously released statement on the California COVID-19 Relief Package, said:

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