July 23, 2020
Does paid sick leave count as a covered payroll expense?
Posted by Armanino Financial Advisory Team
Yes. PPP loans cover payroll costs, including costs for employee vacation, parental, family, medical and sick leave. However, the CARES Act excludes qualified sick and family leave wages for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act.