PPP Salary limitation - Spidell

PPP Salary limitation

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Message Board PPP Salary limitation

  • This topic has 4 replies, 4 voices, and was last updated 1 week, 6 days ago by Lynn Freer.
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    • #248706
      Bruce Zaer
      Participant

      Salary limitation is $100,000 How is this calculate

      Example:

      Salary 1st 3 months = 30,000

      This would equal 120,000 per year on a monthly basis;  for purposes of salary forgiveness, is it limited to $7,777 (100,000 – 30,000 /9) per month for the 3 month period and any excess would not be forgiven.

    • #248707
      William Dewberry
      Participant

      8 weeks over 52 weeks times 100,000 8/52 x 100,000 = 15,385 max per person for forgiveness

      This may change

    • #248723
      Scott Penn
      Participant

      I thought the $100,000 annual wage was for an owner of the company? Therefore, $100,000/52*8=$15,384.62, or if you wanted to stretch it, $100,000/12*2=$16,666.67.

      Does anyone have an opinion?

    • #248727
      William Dewberry
      Participant

      Applies to all employees, just as the 100,000 limit applied to all employees in the loan application; no 2/12 is not allowable, its specifically 8 weeks.

    • #248740
      Lynn Freer
      Participant

      You are correct it’s specifically 8/52 and in the current bill there is no mention of an increase above the $100k

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