The Wisconsin Department of Revenue has made additional information available around the exclusion of grant income to business.
Most State grant programs that were funded by the Coronavirus Relief Fund will be excluded from WI State Income Tax.
The table below lists the grants that have been specifically identified as being excluded from WI Income Tax:
| Purpose | Agency | |
$420 Million is now available through the Wisconsin Tomorrow Small Business Recovery Grant Program.
We’ve provided much information regarding the Senate’s Coronavirus Stimulus Legislation in the past several days and now that is has finally passed the Senate and is on its way to the House of Representatives and then the President, we are providing another summary of the final bill with highlights to the main new provisions.
Beginning with tax year 2020, the Form 1099-NEC will be required to report all non-employee compensation for any business, regardless of size, that pays at least $600 for services performed in the course of their trade or business.
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