Mills says she’ll seek ways to avoid state tax on businesses’ relief loans

Portland Press Herald

But the liberal Maine Center for Economic Policy said the state should reject a “double-dip tax break scheme” for businesses.

The organization said making the loans tax-free while also allowing businesses to write off expenses partially paid for with PPP funds gives businesses two tax breaks for the same money – “one tax break for the grant coming in, and another for spending it.” The center also said the tax break would unfairly help larger businesses that received bigger PPP loans rather than small businesses that did not get as much aid.

Click here to read the full story, first published January 27, 2021, in the Portland Press Herald.