is available in 16 states because of grant money from the federal government. Wisconsin is already up and running. To see if and when your state will have this help, contact your state department of health.
The answer to this is the same answer to any good question, It Depends. Some grants are taxable and some are not. If you get a grant to start a business, I would assume you would have to treat that as taxable income but you would probably not pay any taxes on it because you would use the money to buy business deductible items like computers, office space, advertising etc. Grants and scholarships in excess of tuition, fees, books, supplies, and equipment are considered taxable income. Grants given to veterans not taxable. A lot of grants given out to pay your energy bills or help pay your mortgage are not taxable.
it’s amazing but true. It’s another story for people who keep telling me there is no such thing as grant money for business. He’s the brother of a friend of mine I was talking to at a birthday party. He was setting up a small fulfillment center business in West Virginia and the state gave him $700,000 to help start the business. He couldn’t spend it all so he gave back $350,000 and told them to give it to him later when he’ll want to grow some more. So check West Virginia if you need grant money to start a business