Virginia Delegate McNamara Pre-Files Legislation Exempting Forgiven PPP Loans from State Taxes

Delegate Joe McNamara (R-Roanoke) has pre-filed HB 1787, legislation for the 2021 General Assembly session that will exempt business owners from state taxes on forgivable Paycheck Protection Program (PPP) loans. PPP loans are part of broad COVID-19 relief funding meant to help small businesses keep paying their employees.

When the PPP was passed by Congress in March 2020, the forgivable loans were exempt from federal taxes, but Virginia’s tax structure means the forgiven PPP loans are not automatically exempt from state taxes. McNamara said that could lead to confusion for business owners.

Read More

Republican Delegates Call for In-Person Meetings During January General Assembly Session

Two Republican state delegates released a joint statement on Tuesday calling for the Speaker of the House Eileen Filler-Corn (D-Fairfax) to work with members on finding a way to hold in-person meetings during January’s regular General Assembly session.

Delegates Christopher Head (R-Roanoke) and Joseph McNamara (R-Roanoke County) said in the statement they are preparing to be in Richmond for the start of the regular session.

Read More