Montanans in every corner of the state have been affected by the COVID-19 pandemic. As Montana works to recover from the unprecedented economic situation caused by this novel Coronavirus, the state made emergency financial relief available from the federal government to those who have been hardest-hit by impacts of COVID-19.
This financial assistance was funded through $1.25 billion in federal emergency relief funding through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The receipt of a government grant by a business generally is not excluded from the business's gross income under the [IRS] Code and therefore is taxable. More information is available here.
The programs funded through the federal CARES Act joined the state’s suite of existing support services and direct federal appropriations to ensure Montana’s families, workers, seniors, businesses and non-profits emerge from this challenge even stronger than before.