California has revised its webpage on forgiven Paycheck Protection Program (PPP) loans. The CA Franchise Tax Board (FTB) has added a related page of frequently asked questions for PPP loans. Topics include an overview of the income exclusion for tax years beginning after January 1, 2020, as well as conditions a taxpayer must meet to qualify for expense deduction, basis adjustments and more. Here’s the FAQ list: https://bit.ly/3xDKMW6