Residents of Tennessee can apply for a range of grants in many professions and sectors. There are several grants available to people who meet the requirements, from funding for small businesses to education. We will look at the grants available in Tennessee and how to be eligible for them in this article.
For businesses impacted by the COVID-19 epidemic, the Tennessee Department of Revenue offers a Business Relief Program. Small firms who saw a 25% drop in revenue in the second quarter of 2020 compared to the second quarter of 2019 are eligible for a one-time award of $2,500 through the program. Businesses must have a physical presence in Tennessee and be operating as of at least March 1, 2020, in order to be eligible.
The state of Tennessee provides its citizens with a number of grants. Undergraduate students who can prove they have financial need may be eligible for the Tennessee Student Assistance Award. Statewide grants are available to artists and arts groups from the Tennessee Arts Commission. Grants are available from the Tennessee Wildlife Resources Agency for initiatives aimed at conserving wildlife. Applicants must meet particular requirements and submit an application to be eligible for these scholarships. How to Obtain a Tennessee Land Grant
For Tennessee towns, the Tennessee Department of Agriculture administers the Land and Water Conservation Fund Grant Program. The program offers money for the purchase, building, and preservation of facilities and spaces for outdoor recreation. Applicants must be a municipal government or nonprofit organization, and they must have a project that complies with the program’s specifications.
Depending on the type of grant received, a TN COVID grant may or may not be taxable. Grants received under the Tennessee Business Relief Program are not regarded as taxable income. Other grants, however, can be subject to both federal and state income taxes. To find out the tax repercussions of getting a grant, it is advised to speak with a tax expert.
In conclusion, Tennessee offers a variety of awards for various disciplines and sectors. Applicants must meet particular requirements and submit an application to be eligible for these scholarships. It is crucial to investigate the various grants offered and decide which ones best suit your requirements. Tennessee citizens who apply for these programs can get the funding they require to achieve their objectives.