b'NOTE:YOUR STATE MAY (OR MAY NOT) CONFORM TOTHERE ARE MANY MORE DETAILS RELATED TO THE HIGH THESE TAX BENEFITS. POINTS DISCUSSED IN THIS ARTICLE.IfyouoperateinNewYork,Pennsylvania,Michigan,Illinois,There are also many details contained in the new legislation. New Louisiana, Alabama and other states that adopt federal tax lawguidance will be provided by Janet Yellen, Treasury Secretary for changes as they occur, your state will probably adopt the tax benefi tsthe Biden Administration.This information is intended to be a discussed above.This is a bonus point for your state tax return. summary of the basics and is not a substitute for individual advice. For specifi c information about how these provisions apply to you, This may feel like a penalty for your state tax return if you operatecontact your fi nance professional.in Virginia, Florida, Indiana, Wisconsin, California and other states that only adopt federal changes as of a specifi c date, or not at all. More about relief for small employers:You will only see these tax benefi ts on your state tax return to theThe Consolidated Appropriations Act of 2021 (CAA) allows hard-extent your state adopts the federal tax law changes.The eff ect onhit small businesses a second PPP draw.your state tax return may be signifi cant.To determine whether your state will adopt the above federal tax benefi ts, its vital that you consult your tax advisor about the rulesABOUT THE AUTHOR: in your state.JOAN M. RENNERCPA, CGMA IS A SHAREHOLDER IN THE FIRM OF RENNER AND COMPANY, CPA, P.C.To address devastating lossesJoanM.Renner,CPA,CGMAisa Shareholderinthefi ofRennerand from the COVID-19 pandemic, rm Company, CPA, P.C. in Alexandria, VA. new laws will bring businessesShehasanaccountingdegreefromthe University of Virginia and has 30+ years as some relief on their 2020 taxa tax professional.returns.2021 Renner and Company, CPA, P.C. All Rights Reserved. January 18, 2021PRECISE 360 PROPULSION EXCEED GLOBAL EMISSIONS STANDARDS PLUS FULL AUXILIARY POWEROperate a lightweight vessel equipped with hybrid or electric engines. Reduce your operating and maintenance costs. Minimize your environmental impact. BUILD A CARBON FIBER FERRYTwin Disc Marine Control Drives (MCDs) allow variable propellerMARINE speedfrom full engine output to slower than engine idlewhileCONTROL splitting main engine power to drive FiFi pumps or other auxiliaryDRIVEequipment. The MCD-2000/4000/5000 series covers extended diesel power requirements from 1680 kW (2280 HP) to 5250 kW (7130 HP) with heat dissipation capabilities up to 450 kW (610 HP).And our Veth Z-drives provide 360 thrust for optimal vessel maneuverability and positioning.If you want the ultimate in slow-speed maneuverability, highly accurate positioning and simultaneous, full-firefighting capability, specify Twin Disc and Veth Propulsion on your next tug build.VETHFor expert engineering assistance to assure your optimal product specificationsZ-DRIVEand performance, contact Klaus@TwinDisc.com.Learn about Americas only carbon T- and K-Class ferry builder:www.ARCADIA-ALLIANCE.comFEB 2021 9 FINANCE & TAXES'