Greater Coachella Valley Chamber of Commerce
  • Join the Chamber
  • Business Directory
  • GCVCC
    • Member to Member Referral Program
    • Articles Of Incorporation
    • GCVCC Board of Directors
    • Ambassador Application
    • Staff
  • Events
    • Sponsorship Opportunities
    • Ribbon Cutting Request
  • Legislative Action
    • Legislative Action
    • Elected Leaders
    • GCV PAC
  • Resources & Publications
    • Employer Connect Program
    • Get Your Business Known
    • Business Support
    • The Gem
    • Publications
    • Ambassador Application
  • News
    • Community
    • City
    • Business
    • Non-Profit news
    • Arts & Entertainment
    • Legislative Advocacy Updates
    • E-Newsletter Signup
    • Submit Your News
  • Chambers
    • Cathedral City Chamber
    • Coachella Chamber
    • Desert Hot Springs Chamber
    • Indian Wells Business District
    • Indio Chamber of Commerce
    • La Quinta Chamber
    • Unincorporated Riverside County
  • Member Login
  • Join
  • Business Directory
  • GCVCC
    • Member to Member Referral Program
    • Article of Incorporation
    • GCVCC Board of Directors
    • Ambassador Application
    • Staff
  • Events
    • Events & Registration
    • Ribbon Cutting Request
  • Legislative Action
    • Legislative Action
    • Elected Leaders
    • GCV PAC
  • Resources & Publications
    • Employer Connect Program
    • Get Your Business Known
    • Business Support
    • The GEM
    • GCV Voice of Business
    • Advertise In Our Publications
  • News
    • E-Newsletter Signup
    • Submit your news
  • Chambers
    • Cathedral City Chamber
    • Coachella Chamber
    • Desert Hot Springs Chamber
    • Indio Chamber of Commerce
    • La Quinta Chamber
    • Indian Wells Business District
    • Unincorporated Riverside County

News

GCVCC Urges State Law Makers to Standardize PPP Deductions

March 25, 2021

News from the GCVCC Business Legislative Advocacy Committee

Support Letter:

The Greater Coachella Valley Chamber of Commerce (GCVCC) is requesting you work with your respective legislative bodies to help alleviate an unnecessary tax burden being placed on local small businesses during this time of financial crises. The tax burden stems from language found within Assembly Bill 1577, passed and signed into law on September 9, 2020, which is now out of line with amended federal tax policy.

The Consolidated Appropriations Act of 2021 (H.R. 133) which was passed and signed into law on Monday, December 28, 2020, did more than just create additional stimulus checks of $600 and authorize a second round of Paycheck Protection Program (PPP) loans called second draw loans. It reversed the IRS’s position that the expenses incurred with the forgivable PPP funds would not be included as deductible expenses on the business’s 2020 income tax return. The intent of the original CARES Act funding was to create stimulus in the form of forgivable loans. By passing H.R. 133 and clarifying that businesses can in fact take the expense deductions attributable to the PPP funding, the PPP loans become the tax-free stimulus they were intended to be.

Full Letter:

PPP State Tax Status

Upcoming Events

May 16
5:00 pm - 7:00 pm

Desert Hot Springs Chamber Local Mixer @ Friday Nights on Pierson

May 19
11:30 am - 12:30 pm

Ribbon Cutting | Raising Canes

May 20
5:00 pm - 6:30 pm

GCVCC Educates – Mental Health Awareness

May 21
10:30 am - 1:00 pm

Lunch Club | Temalpakh Farm

May 23
12:45 pm - 1:45 pm

Ribbon Cutting & Grand Opening | Coachella Valley Optometry

View Calendar
760.347.0676
760.347.6069
info@gcvcc.org

Locations

Coachella

1515 6TH ST.
Coachella, CA 92236

M – TH | 8:30am – 4:30pm

Indio

45-149 Smurr St., Ste. A
Indio, CA 92201

M – F | 8:30am – 4:30pm

  • Contact Us
  • Terms of Use
© Greater Coachella Valley Chamber of Commerce. All rights reserved.

Sign up for the latest news and updates from GCVCC.

  • This field is for validation purposes and should be left unchanged.

zh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
en English

Notifications