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  • Letter To Chair Marquart On Exempting PPP Loans

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    Minnesota House Republicans
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    Rep. Greg Davids, R-Preston, Republican Lead on the House Taxes Committee, writes to Taxes Committee Chair Rep. Paul Marquart, DFL-Dilworth, urging quick passage of legislation to exempt forgiven PPP loans from state income taxes.

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    Letter to Chair Marquart on Exempting PPP Loans

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    Rep. Greg Davids, R-Preston, Republican Lead on the House Taxes Committee, writes to Taxes Committee Chair Rep. Paul Marquart, DFL-Dilworth, urging quick passage of legislation to exempt forgiven PPP loans from state income taxes.

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    388 views1 page

    Letter To Chair Marquart On Exempting PPP Loans

    Uploaded by

    Minnesota House Republicans
    Rep. Greg Davids, R-Preston, Republican Lead on the House Taxes Committee, writes to Taxes Committee Chair Rep. Paul Marquart, DFL-Dilworth, urging quick passage of legislation to exempt forgiven PPP loans from state income taxes.

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    © All Rights Reserved
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    of 1

    !

    March 01, 2021



    

    Rep. Paul Marquart

    Chair, House Taxes Committee

    597 State Office Building

    100 Rev. Dr. Martin Luther King Jr. Blvd.

    Saint Paul, MN 55155


    via Electronic Delivery


    Chair Marquart,
    With tax season upon us, there are thousands of Minnesota businesses who are waiting for the legislature
    to take action and pass a bill to exempt Paycheck Protection Program (PPP) loans from state income
    taxes. The past year has been among the most difficult in memory for our Main Street businesses, and
    they deserve certainty that they won’t be hit with a substantial unexpected tax bill.
    In light of the state’s $1.6 billion budget surplus, we have the resources needed to address this issue
    quickly. Further delays will force businesses to file extensions as they wait for action by the legislature.
    This past weekend, you were quoted in the Star Tribune as saying "We laid the bill over and we'll see how
    the finances look.” Chair Marquart, the finances look good, and we should pass this bill and not let it get
    wrapped up in budget and end-of-session politics. It’s the right thing to do, and it’s something that our
    businesses are urgently asking for action on. With strong bipartisan support for this bill in the Senate, and
    the Governor indicating last week that he supports PPP loan exemption, I’m confident we can move
    quickly to get this passed and signed into law.
    Sincerely,

    !
    Greg Davids

    District 28B

    Republican Lead, House Taxes Committee

    CC (via electronic delivery): 



    Rep. Dave Lislegard, Vice Chair, House Taxes Committee

    Sen. Carla Nelson, Chair, Senate Taxes Committee

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