FTB Paycheck Protection Program (PPP) Information Updated
FTB has corrected an error on its PPP loan forgiveness page
. The last paragraph of the Overview section previously stated:
"The Paycheck Protection Program Extension Act (PPPEA) (Public Law 117-6) was enacted on March 30, 2021, and extended the covered period of the PPP from March 31, 2021, through June 30, 2021. California law does not conform to this extension and does not allow an exclusion from income for PPP loans forgiven after March 31, 2021."
The last sentence of the above paragraph has been corrected to read:
"California law does not conform to this extension and does not allow an exclusion from income for PPP loans made after March 31, 2021."
Get additional details from FTB’s updated PPP FAQs