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In most cases, grants and bursaries are considered taxable income.
The New Jersey Economic Development Authority (NJEDA) grows the state's economy and increases equitable access to opportunity by supporting high-quality job creation, catalyzing investment, and fostering vibrant, inclusive community development.
NJEDA NOW ACCEPTING APPLICATIONS FOR Small Business Improvement Grant. The Small Business Improvement Grant offers reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures and equipment.
For Gross Income Tax purposes, any or all of a PPP Loan, forgiven through the federal Cares Act or federal Paycheck Protection Program, is not taxable. These amounts should not be reported on an Individual Income Tax return (NJ-1040, NJ-1040NR, NJ-1041).
For Gross Income Tax purposes, any or all of a PPP Loan, forgiven through the federal Cares Act or federal Paycheck Protection Program, is not taxable. These amounts should not be reported on an Individual Income Tax return (NJ-1040, NJ-1040NR, NJ-1041).
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New Jersey Economic Development Authority (NJEDA) Grants: Federal: Although the federal government has not directly addressed these grants, they are generally taxable to businesses.
The New Jersey Economic Development Authority (NJEDA) Diversity & Inclusion Unit supports the Authority's commitment to growing New Jersey's economy and increasing equitable access to opportunity.
In most cases, grants and bursaries are considered taxable income.
New Jersey Economic Development Authority (NJEDA) Grants: Federal: Although the federal government has not directly addressed these grants, they are generally taxable to businesses.
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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