July 23, 2020
Does the cap of $100,000 per employee refer only to 2019 or both 2019 and 2020?
Posted by Armanino Financial Advisory Team
The $100,000 cap is in place throughout the PPP program, originally in calculating your loan amount. In the forgiveness phase, this cap limits the amount of forgiveness available for payroll costs. This amount is also used to determine the employees who may be subject to the Salary/Hourly Wage Reduction Factor.