On March 7, 2022 Governor Evers signed into law the Restaurant Revitalization Fund Tax Treatment Bill that was championed by the Wisconsin Restaurant Association.
The law updates Wisconsin tax code treatment of RRF grants to conform with federal tax code, treating these grants as non-taxable income, similar to the provisions passed and signed into law for PPP loans earlier this year.
This is great news for RRF grant recipients. It means they will NOT have to pay taxes on the income AND the expenses paid for with the grants can still be deducted as expenses on tax returns.
RRF grant recipients will save money with this tax exemption (some will save thousands of dollars).
The Wisconsin Restaurant Association would like to thank Governor Evers for signing the bill into law and Representative Robert Wittke and Senator Roger Roth for sponsoring the bill. This law will be a great help to restaurants that received RRF grants.
If you have questions about this RRF tax treatment bill, call 608.270.9950 to talk to a Wisconsin Restaurant Association team member.