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M&G Trucking: PPP tax could be devastating for us - Providence Business News

GOV. DANIEL J. MCKEE S proposed taxation of Paycheck Protection Program loans over $150,000 is causing concerns for some Rhode Island businesses. / PBN PHOTO/CASSIUS SHUMAN PROVIDENCE – Melody Majkut went from a feeling of relief when her business received a federal Paycheck Protection Program loan to shock after she learned that the company could be taxed on the money. Majkut and her husband, Mark, have operated M&G Trucking and Transportation Inc. in Pawtucket for 27 years. The company, which delivers general freight to as far away as Texas, received two $450,000 PPP loans, which she said “arrived in the nick of time” to save the business. Now, she is concerned of the burden to the business in having to pay $45,000 in taxes on the forgiven loans.

Rhode islandUnited statesCarlose tobonK joseph shekarchiDanielj mckeeJim thorsenCarol hagan mcenteeDominickj ruggerioHouse finance committeeTransportation incMckee at dunkin centerPaycheck protection programRi department of revenueDunkin centerMelody majkutPresident dominick

McKee committed to PPP taxation over $150K - Providence Business News

McKee committed to PPP taxation over $150K Updated at 7:07 p.m. on April 7, 2021 GOV. DANIEL J. MCKEE is committed to a budget proposal calling for taxation of Paycheck Protection Program loans over $150,000 that would generate about $67.7 million in general revenue in 2021 and 2022. / AP PHOTO/STEVEN SENNE PROVIDENCE – Gov. Daniel J. McKee’s proposal to tax forgiven Paycheck Protection Program loans greater than $150,000 would generate an estimated $67.7 million in revenue for the state in fiscal years 2021 and 2022, according to the governor’s office. Despite growing opposition from business groups, McKee spokesman Matt Sheaff on Wednesday said the governor remains committed to the proposal, which marks a shift in policy from what Paul L. Dion, chief of the R.I. Office of Revenue Analysis, told the Senate Committee on Finance in January.

Rhode islandUnited statesDanielj mckeeJim thorsenSarah bratkoLiz catucciPaull dionAlan krinskyNorthern rhode island chamberDepartment of revenueHouse committee on financeRi hospitality associationRi office of revenue analysisPaycheck protection programEconomic progress instituteClimate change

Flashback: Park Rapids Rotary, Jaycees take fishing derby helm for two years

Flashback: Park Rapids Rotary, Jaycees take fishing derby helm for two years
parkrapidsenterprise.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from parkrapidsenterprise.com Daily Mail and Mail on Sunday newspapers.

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Raimondo transfers budget powers to McKee via executive order

Raimondo transfers budget powers to McKee via executive order The governor also named three new acting heads of state departments By Brian Amaral Globe Staff,Updated February 22, 2021, 7:31 p.m. Email to a Friend Rhode Island Governor Gina Raimondo signs an executive order on Feb. 22 directing state departments to cooperate with Lieutenant Governor Dan McKee in his efforts to develop the state s budget for the upcoming fiscal year.Photo Courtesy of the Office of the Governor of Rhode Island/Handout PROVIDENCE â Rhode Island Governor Gina Raimondo on Monday handed over budget powers to her soon-to-be successor, Lieutenant Governor Dan McKee, with her departure for President Joe Bidenâs cabinet possibly stretching into March.

Rhode islandUnited statesScott jensenBrett smileyJim thorsenDonald trumpAudrey lucasMatt weldonMarilyn mcconaghyTed cruzDepartment of revenueDepartment of administration onUs senateDepartment of laborIncoming governorJosh block

Raimondo delegates budget power to McKee, names 3 to cabinet

Raimondo delegates budget power to McKee, names 3 to cabinet Gov. Gina Raimondo Monday turned her constitutionally-granted state budget-writing responsibilities over to Lt. Gov. Dan McKee. A tax and spending plan for the year beginning July 1 is due by state law no later than March 11, but Raimondo s nomination to be U.S. Commerce Secretary awaits Senate confirmation with no date set for a vote. In an executive order she signed Monday evening, Raimondo delegated development of the FY 2022 Budget to McKee, regardless of whether she is in office. The Rhode Island Constitution requires the governor to prepare and propose an annual budget to the General Assembly.

Rhode islandUnited statesPatrick andersonK joseph shekarchiJim thorsenDan mckeeMatt weldonMarilyn mcconaghyDepartment of revenueDepartment of administrationDepartment of laborGina raimondo mondayRhode island constitutionHouse speakerDirector scott jensenDirector brett smiley march