I’m applying for a PPP Loan, why don't the new Paid Sick and Family Leave codes count towards “payroll costs”?

Payroll costs reflect the costs that you regularly incur each month. Since these earnings are new and designed to be used for leave specifically related to the Coronavirus outbreak they do not count towards a company's regular payroll cost as they're not regularly incurred. Please refer to COVID-19: Reports for CARES Act PPP Loan Calculation for more details.

STAY UP TO DATE:

Always stay up to date with COVID-19: Consolidated Appropriations Act Updates for 2021.