StephanieS
Level 3
02-08-2021
01:21 PM
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Are the grants given to businesses from their county taxable? The county received money from the CARES Act and the county then gave that funding to eligible businesses in the form of grants.
Many of my clients received these grants. This is in addition to the PPP and EIDL (which I know are non-taxable). Do we know if this county grant money is taxable?
The closest I can find is that they are taxable here: https://www.irs.gov/newsroom/cares-act-coronavirus-relief-fund-frequently-asked-questions but this seems odd since PPP and EIDL are both nontaxable.
Thank you!
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