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Paycheck Protection Program (PPP) – Payroll Costs Q&A

Additional answers have been posted by the SBA pertaining to the Payroll Protection Program (PPP) payroll costs.  Here is a sample of questions and answers that have been posted.

  • Do PPP loans cover paid sick leave under payroll costs?
  • What period of time should borrowers use to determine their number of employees and payroll costs to calculate their maximum loan amounts?
  • Should payments that an eligible borrower made to an independent contractor or sole proprietor be included in calculations of the payroll costs?
  • How should a borrower account for federal taxes when determining its payroll costs for purposes of the maximum loan amount?

To see answers to these questions on payroll costs, as well as additional questions and answers with the SBA, follow this link.

Check back for more updates on our COVID-19 Resources Center.

 

 

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