CERTS Transportation Grants Exempt from Federal Taxation
This act exempts grants received under the Coronavirus Economic Relief for Transportation Services (CERTS) Act from federal taxation. This means transportation service providers who received these aid funds will not have to include them in their gross income. The change applies to taxable years ending after the original CERTS Act's enactment date.
Key points
Transportation companies will not pay income tax on grants received through the CERTS program.
The tax exemption also applies to partnerships and S corporations.
The change covers taxable years ending after the CERTS Act's original enactment.
Expired
Citizen Poll