Does a particular state follow business interest deduction limitations of Sec. 163(j) or how does a state handle net operating loss (NOL) carryforwards or carrybacks? When is the return due and how is tax determined? And, what about apportionment methods? Quick answers to these questions and more can be found in this handy chart that summarizes common business state income and franchise tax matters.
PPP State Tax Treatment Chart – Use this chart to identify released state guidance