[Ritaxpronews] Rhode Island Division of Taxation -- PPP loans

[Downing, Neil (DOR)]

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The Rhode Island Division of Taxation today provided further guidance on the Rhode Island tax treatment of Paycheck Protection Program (PPP) loan forgiveness.

According to the new guidance, the Division has developed a form for reporting the amount by which PPP loan forgiveness for 2020 exceeds $250,000. Taxpayers will also use the forthcoming form to compute any tax due.

For more information, please use the following link:

http://www.tax.ri.gov/Advisory/ADV_2021_39.pdf

Thank you.





Neil Downing
Chief Revenue Agent
Rhode Island Division of Taxation
One Capitol Hill
Providence, R.I. 02908

Neil.Downing at tax.ri.gov<mailto:Neil.Downing at tax.ri.gov>
(401) 574-8115

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