I have a client that wants to use any three months that they had a 25% decrease for the AB 80 requirements. In their case it was March, April & May. I believe a calendar quarter is quarter end 3/31, 6/30, 9/30 or 12/31, not any 3 months you want to choose. I can’t find anything specific, is there any clarification as to what a calendar quarter is in the PPP information? Or is there any tax law or SBA literature that defines what a calendar quarter is?
I have a client that has a tax year ending August 31st. In that case, would we use every three months during their past tax year rather than the quarters listed above for a calendar year corporation. I also have clients who have year ends such as September 30. Would I still use 3/31, 6/30, 9/30, and 12/31/2020?