grant income taxable to Ca? - Spidell

grant income taxable to Ca?

Log in to Post

Message Board › grant income taxable to Ca?

  • This topic has 6 replies, 3 voices, and was last updated 1 day, 5 hours ago by Sandy Weiner.
Viewing 6 reply threads
  • Author
    Posts
    • January 8, 2021 at 1:37 pm #286378
      Mary Cheek
      Participant

      If a client received, say, a $1000 grant from the county, i believe that it is not taxable for federal, but is it taxable to ca?

    • January 12, 2021 at 5:20 pm #287032
      Anonymous

      Anyone?

    • January 13, 2021 at 10:22 am #287103
      Sandy Weiner
      Participant

      It depends on what the grant is for.  If it is an excludable disaster relief grant under IRC Sec. 139, then it would not be taxable for CA purposes either.

    • January 13, 2021 at 11:46 am #287142
      Mary Cheek
      Participant

      Would it make a difference if the the payment was recieved by/for the buisness?

    • January 13, 2021 at 1:11 pm #287174
      Sandy Weiner
      Participant

      IRC Sec. 139 only applies to individuals so it would not apply to grants paid to businesses.

    • January 13, 2021 at 2:02 pm #287188
      Anonymous

      So the, i assume that grants paid to businesses would be taxable for Ca and IRS?

    • January 14, 2021 at 8:06 am #287244
      Sandy Weiner
      Participant

      Yes, unless specifically excluded (e.g. EIDL grants are excluded for federal, but not CA purposes).

  • Author
    Posts
Viewing 6 reply threads