Employers in California who have questions about the Paycheck Protection Program (PPP) get some answers. The April edition of the CA Franchise Tax Board’s “Tax News” addresses whether CA will conform to the federal rules with respect to the PPP, which is part of the CARES Act. The Tax Board said that while income from PPP loan forgiveness is excluded for CA purposes, any credit or deduction allowed for any amount paid or incurred should be reduced by the amount of the exclusion allowed under the PPP. If other changes in CA law related to the PPP arise, the Tax Board will present the new information in its “Tax News.”

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