Use Of Grant Funds

Do I have to pay taxes on the grant award?

Yes, grant recipients have to pay taxes on the amount of funds received in 2024 in their 2025 tax filings. The Women’s Business Development Center (WBDC) will provide grant recipients with a Form 1099-MISC in early 2025 which will need to be reported on grant recipients 2024 income tax return. To determine the proper tax reporting for the grant, please consult an attorney, accountant or tax professional.

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