An ag economist says farmers and other businesses that utilized the Paycheck Protection Program will have to pay close attention to their state tax laws and potential law changes.
David Widmar from Ag Economic Insights tells Brownfield the PPP program is the first of its kind, so there is no experience in managing its potential tax implications. “It’s a different type of program and it’s not something that we’ve ever had to deal with before, and I think even the states are having to figure that out, and each state has its own tax code.
