PPP in Mississippi

[dorndawg]

List of businesses & non-profits who received over 150k in PPP money https://pppreport.org/location/ms

You can look at other states here https://pppreport.org/location

 

[11thEagleFan]

If you go apply for PPP, make sure you wear your PPE and to socially distance as we all try to adjust to “the new normal” so that we can flatten the curve.

 

[Jeffreauxdawg]

If you go apply for PPP, make sure you wear your PPE and to socially distance as we all try to adjust to “the new normal” so that we can flatten the curve.

That's one of those that was funny when you typed it, but I am betting after you posted and read it back to yourself it lost its luster... Don't worry I do it all the time. Have a sympathy wahoo.

 

[fishwater99]

Many Law Firms and CPA Firms on this list. It's free money too.

 

[GloryDawg]

I looked at the Brandon list and many of those business never shut down. Brandon Discount Drugs stayed open, parking lot full of cars with people waiting out side. The only difference was everyone was outside in cars. I know why they took the money. Hell it was free money but did they keep another business that needed help from receiving it.

 

[mcdawg22]

View attachment 16755Speaking of boosters getting PPP.

 

[stateu1]

but did they keep another business that needed help from receiving it.

No. You can still apply for PPP. There's still money left.

 

[Jeffreauxdawg]

.. It's free money too.

Not really. We the people will pay for it in higher taxes or increased inflation. There are consequences to printing money and giving it away.

 

[patdog]

The whole program was 17ed up from the start. Way too complicated for truly small businesses to go through the process without help, and not need-based at all. Just a free money give away. I understand they had to pretty much come up with something on the fly, but it could have been done much simpler and with less waste of money to businesses who weren't damaged.

 

[patdog]

Yeah, but we're paying that whether we took the money or not. My employer's on the list, and I don't blame them even though we've been working and generating revenue just as much as we ever have.

 

[fishwater99]

Not really. We the people will pay for it in higher taxes or increased inflation. There are consequences to printing money and giving it away.

Free for those who got it, if you qualified you are stupid for not getting a PPP 'Loan".

 

[xxxWalkTheDawg]

All I know is everyone who applied better have done so on the up and up.

Word is the DOJ is about to bust open the floodgates on indictments for fraud.

 

[msudawg12]

I looked at the Brandon list and many of those business never shut down. Brandon Discount Drugs stayed open, parking lot full of cars with people waiting out side. The only difference was everyone was outside in cars. I know why they took the money. Hell it was free money but did they keep another business that needed help from receiving it.

PPP wasnt just for businesses that shut down. It was for businesses that stayed open but needed it to keep people employed as well.

 

[GloryDawg]

PPP wasnt just for businesses that shut down. It was for businesses that stayed open but needed it to keep people employed as well.

It was to help businesses that was shut down to keep them in business and keep employees on pay roll until they could reopen. Many business were forced to shut down. That who it was for.

 

[msudawg12]

It was to help businesses that was shut down to keep them in business and keep employees on pay roll until they could reopen. Many business were forced to shut down. That who it was for.

That 100% was not the only reason. It was also for businesses like mine, that were labeled essential but had half the demand for the past 3 months so we wouldnt have to lay people off.

 

[GloryDawg]

That 100% was not the only reason. It was also for businesses like mine, that were labeled essential but had half the demand for the past 3 months so we wouldnt have to lay people off.

I understand that. My point was did a business that did not need the loan keep another from receiving help. That question was answered. I am sure Brandon Discount Drugs did not hurt from the pandemic
YOu know good and well business took advantage.
This is the rule:

PPP Eligibility

In addition to meeting the size requirement (500 or fewer employees for most companies), you must show that your business has been negatively impacted by the coronavirus.

 

[msudawg12]

because of your quote in which you were arguing (incorrectly):

It was to help businesses that was shut down to keep them in business and keep employees on pay roll until they could reopen. Many business were forced to shut down. That who it was for.

 

[GloryDawg]

No. You can still apply for PPP. There's still money left.

Good to know.

 

[aTotal360]

What is MAO Foods in Starkville? Is that the little Asian Grocery store?

 

[GloryDawg]

because of your quote in which you were arguing (incorrectly):

Okay. I apologize about that.

 

[GloryDawg]

The whole program was 17ed up from the start. Way too complicated for truly small businesses to go through the process without help, and not need-based at all. Just a free money give away. I understand they had to pretty much come up with something on the fly, but it could have been done much simpler and with less waste of money to businesses who weren't damaged.

Something that big and that fast it was going to be trouble. I don't know if they really had the time to work it all out at first. They probably knew it was going to learn as you go and it was taken advantage of. However it was needed and probably save a lot of business.

 

[Leeshouldveflanked]

Farese, Farese and Farese Ashland Ms got one.... thank goodness they were able to save those jobs....

 

[jack daniels dog]

I understand that. My point was did a business that did not need the loan keep another from receiving help. That question was answered. I am sure Brandon Discount Drugs did not hurt from the pandemic
YOu know good and well business took advantage.
This is the rule:

PPP Eligibility

In addition to meeting the size requirement (500 or fewer employees for most companies), you must show that your business has been negatively impacted by the coronavirus.

All due respect, all you would have to do is show for one month you did less revenue than a recent previous month. I don’t it would be that hard with the impact the virus had on business. But maybe I’m wrong.

 

[patdog]

It's not going to be hard for most any business to show they've been negatively impacted by the coronavirus. That requirement is about as vague as it gets.

 

[GloryDawg]

It's not going to be hard for most any business to show they've been negatively impacted by the coronavirus. That requirement is about as vague as it gets.

I agree. It doesn't give how much negative impact has to be shown. It just look like Brandon Discount Drugs did not miss a lick.

 

[Leeshouldveflanked]

Masterbuilt in New Albany got one for $2-5 Million then promptly announced they were shutting down....

 

[RocketDawg]

Is PPP taxable income, for the businesses or individuals, or maybe both?

 

[GloryDawg]

Is PPP taxable income, for the businesses or individuals, or maybe both?

I am assuming it is a loan until it is forgiven.. After that i don't know. It might mean forgiven means forgiven. I would guess as for the employees it is income and will owe normal tax's.

 

[kired]

^^^ does not like Brandon Discount Drugs

 

[RocketDawg]

Thinking about it, it makes sense that it would be taxable. For one, it's income to make up for lost income; and you'd owe no taxes if you didn't get income. Beyond that, there would be less income for the government, and a LOT more outgo on less income.

 

[jethreauxdawg]

Did the business

It's not going to be hard for most any business to show they've been negatively impacted by the coronavirus. That requirement is about as vague as it gets.

Have to spend additional money on ppe, signage, and hand sanitizer? Those are all negative impacts.

 

[GloryDawg]

^^^ does not like Brandon Discount Drugs

Actually I buy all my meds for me and my family there. They do a good job finding best prices for you.

 

[fishwater99]

Is PPP taxable income, for the businesses or individuals, or maybe both?

It's a grant if 100% forgiven, so that would not be taxable income. But any expenses paid with the forgiven loan will not be deductible expenses.

 

[ronpolk]

I agree. It doesn't give how much negative impact has to be shown. It just look like Brandon Discount Drugs did not miss a lick.

I don’t think it would be exactly fair to judge if a business has any impact by if the parking lot was full when you drove by.

If the pharmacy had any aspect of retail to it outside of drugs, they most certainly took a hit on that. And that is likely high margin items for a small pharmacy like that.

 

[ronpolk]

It's not going to be hard for most any business to show they've been negatively impacted by the coronavirus. That requirement is about as vague as it gets.

I know for a fact there were more than a few companies who took the loan and don’t care if it’s forgiven or not. I’m sure they would like for it to be. But I know of more than one company that paid off higher interest debt with the funds. They are content to just pay the PPP money back at the 1% (I think that was the rate).

 

[JMC987]

Damn the working the man for latching on the GOV tit.

don't worry Dorn. Uncle Sugar will send Your EITC next year and every year after.

https://www.eitc.irs.gov/eitc-centr...ith-eitc/statistics-for-tax-returns-with-eitc

 

[RocketDawg]

I don’t think it would be exactly fair to judge if a business has any impact by if the parking lot was full when you drove by.

If the pharmacy had any aspect of retail to it outside of drugs, they most certainly took a hit on that. And that is likely high margin items for a small pharmacy like that.

The drive-thru at the Walgreen's I use would pick up certain items for you, like hand sanitizer and paper products, OTC meds, etc. They sell other things of course, but then the store was never closed or limited (other than a mask policy that they didn't enforce).

 

[Hugh's Burner Phone]

Not sure about PPP but I'm down with OPP.

 

[TNT.sixpack]

I sold my business in January. The new owner has been billing 270% over what I’ve historically billed annually prior to COVID. He is backed up 4 months on work currently. He’s on that PPP list. Yes, many took advantage of it.

 

[fishwater99]

I sold my business in January. The new owner has been billing 270% over what I’ve historically billed annually prior to COVID. He is backed up 4 months on work currently. He’s on that PPP list. Yes, many took advantage of it.

Why would you not take advantage, it’s basically free money. They had good intentions, but it’s not set up to only help those businesses who really need it. A business should only be able to keep the amount of revenue loss from the PPP compared to the previous year, unfortunately that’s not the case. If you use the money as per the CARES Act you get to keep it all. Huge handout to some business, while others need the funds to just get by. Another Prime example of a government **** up.