HB1446 Introduced to Address Deduction for B2B MS Grant Program Eligible Expenses
SB2772, which was passed during the 2020 Legislative Session, established the B2B grant program and states that grant proceeds are not taxable to MS but did not allow the deductibility of expenses.
Last night HB1446, authored by Speaker Gunn, was passed by the Ways and Means Committee and will now go to the House floor to begin the approval process. If the bill passes both the House and the Senate, it will be sent to the Governor. With the March 15 tax deadline approaching, we are making all efforts to expedite the bill. We will keep members updated on the bill’s progress.