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If I get a grant, do I have to pay tax on it?
Answered By Ariele Gregerson, Editor
Tax on approved grants depend on the purpose
you are using it. For instance, if you will
be using the grant money for funding a
profiting project, expect that you will be
paying taxes for the profit you have produced
and not for grant you have awarded of.
On the other hand, if the grant money is
intended for non-profit purposes, you will
not be paying tax for it. The bottom line is,
you will be paying tax for the profit you
will get and not for the grant money.
keywords: Grant | Grants | Financial Aid | Funding | Tax | Taxes
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