|
USA | So if am understanding the new PPP deal , looks pretty black and white and not as murky as PPP-1
Farmer gets $20,833.33 based on gross $ generated, if has employee compensation of lets say $100,000 would qualify for another $20,833.33 for total of $41,666.66 of free money.
Now if farmer also had a C Corp that had $100,000 or more gross sales, plus salaries of $100,000 would qualify for another $41,666.66 free money. Even if the $100,000 salary was paid to the farmer by the C Corp.
Looks like I was wrong predicting gloom and doom for banks in 2021 with the amount $ that will be generated @ 5 % service fee plus 1 % on loaned amount till forgiven. Looks like about all farmers will qualify for $20,833.33 .
This is insane if am understanding how it will work.
Edited by coup 1/10/2021 12:10
| |
|
New PPP deal
