July 23, 2020
In calculating payroll costs is there a maximum I can apply to any one person?
Posted by Armanino Financial Advisory Team
Yes. The wage maximum is $100,000 annually per person. If you choose an eight-week Covered Period, this means that you can include no more than $15,385 per person on the forgiveness application. If instead you choose a 24-week Covered Period, the maximum you will be allowed to claim for any employee on your application is $46,154.