Will this grant be considered taxable income?

Yes. Please see the IRS guidance. The City of Little Canada will be responsible for issuing a 1099 form for tax reporting purposes.

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1. How is the Coronavirus Relief Fund (CRF) being funded?
2. My small business does not have a physical location in the City of Little Canada, but the majority of the clients/customers Little Canada residents. Can we apply?
3. Are there limits on how the grant can be used?
4. Will this grant be considered taxable income?
5. How will awardees be selected to receive funding?