PPP Loan Forgiveness: Full Forgiveness

The “Paycheck Protection Program Flexibility Act of 2020” (the “PPPFA”) was signed into law by President Trump on June 5, 2020, and to date, the SBA and Treasury subsequently released the following guidance:   Interim final rules: Integrating the PPPFA, modifying...

Eligibility to Subtract Cost of Goods Sold

Overview On April 3, 2020, the Texas Supreme Court published its opinions on 3 tax cases in connection with a taxpayer’s eligibility to subtract COGS as well as which costs are eligible to be subtracted as COGS for purposes of the Texas Franchise Tax. In Sunstate...

PPP Update: Flexibility Act Signed Into Law

Changes Made by the PPP Flexibility Act   Earlier today the PPP Flexibility Act was signed into law, bringing about several key changes to the PPP’s forgiveness feature.  Further guidance is expected from the SBA and Treasury Department to implement these changes,...

Best of Texas – Voting is Open!

Dear Clients and Friends of the Firm, Thank you for your continued support of Briggs & Veselka and our subsidiary, Pathway Forensics! It is our pleasure to provide you with high-quality forensic, valuation, litigation, and cybersecurity services. Today is your...

Details of the Main Street Lending Program

On April 9, 2020 the Federal Reserve unveiled general details of the Main Street Lending program to assist businesses negatively impacted by the COVID-19 pandemic. This program is available to a wide-variety of middle-market companies and should be of particular...