Latest Breaking News On - பாங்கர் பகுதி அறை - Page 1 : comparemela.com
The 2021 Mainebiz Bangor Forum | Mainebiz biz
mainebiz.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mainebiz.biz Daily Mail and Mail on Sunday newspapers.
Gov Mills signs legislation establishing the Maine Connectivity Authority
observer-me.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from observer-me.com Daily Mail and Mail on Sunday newspapers.
The 2021 Mainebiz Bangor Virtual Forum
mainebiz.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mainebiz.biz Daily Mail and Mail on Sunday newspapers.
“We closed on March 18, Hopkins recalled. It was a Wednesday. I will forever remember that date.
As a new business owner, she said she hadn’t started taking an income yet. I was right on the edge of doing that in March when everything kind of turned upside down, she added.
So, Hopkins, like others in her position, immediately applied for the PPP loan and other grants. While she was able to get funding through the PPP, she was able to support her two employees but ran into other issues.
Hopkins said her monthly rent is three times more than her monthly payroll expense and added the loan wasn t as helpful as it was for other businesses.
Plans by states, including Maine, to tax PPP loans are creating a backlash from businesses.
Under the budget proposal from Gov. Janet Mills, loans proceeds under the federal Paycheck Protection Program would be taxed as ordinary income.
States would use such taxes to compensate for revenue lost in other areas in the past year.
If that part of the budget is approved, Maine could see revenue of $100 million.
The Maine State Chamber of Commerce is among the organizations that have weighed in against that idea, testifying before the state Legislature.
Dana Connors, president and CEO of the chamber, part of the original appeal of the PPP was the aspect of it being a tax-free loan at both the federal and state level.