Hi. If your business received an RRF (Restaurant Recovery Fund) grant, please read on.......
Gov Newsom signed SB 113, which makes RRF grants non taxable in California. (The grants were already non tax for IRS but until yesterday 2/9, not in CA)
This is great news for restaurants and bars that received the grants.
It's also great news for your investors: k1 forms don't need to be delayed!