R.I. Dem. leadership agrees on PPP tax threshold of $250K

Updated at 11 p.m.

Cassius Shuman

06/17/2021

10122018_Independant_TOC-1-1-1 — GOV. DANIEL J. MCKEE and legislative leaders announced on Thursday that the threshold for the taxation of businesses that profited while in receipt of forgiven Paycheck Protection Program loans would be raised from $150,000 to $250,000. / PBN FILE PHOTO/ARTISTIC IMAGES

PROVIDENCE – Rhode Island's Democratic leadership announced on Thursday that the threshold for taxation on businesses that profited while in receipt of Paycheck Protection Program loans would be raised from $150,000 to $250,000. House Speaker K. Joseph Shekarchi, Senate President Dominick J. Ruggerio and Gov. Daniel J. McKee, all Democrats, announced that the fiscal 2022…

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