Monday, June 15, 2020

What Are the Payroll Protection Program Rules on Payroll?

The Application confirms the PPP rules on payroll. Payroll includes cash compensation, employer contributions for group health insurance and retirement plans, and state and local taxes assessed on employee compensation. Under PPP rules and the Application, payroll doesn’t include compensation in excess of $100,000, qualified sick leave under the Families First Coronavirus Response Act or federal income taxes and FICA withheld from an employee. 

Have Questions About the Payroll Protection Program?

If you have questions about the Payroll Protections Program legislation, or need advice about your business, please contact us today at (734) 665-4441. 

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