Posted 1/10/2021 15:34 (#8740084 - in reply to #8740073) Subject: RE: CFAP3 PPP - 25% decline in revenue rule
n. Illinois
the $100,000 is what determines the loan amount under PPP Its gross income for this next round.
If you pay wage income W2's you can add that amount as well to the $100,000. So example is $500,000 Gross income and $50,000 wages paid. $100,000+$50,000= $150,000*.208= $31,200 PPP loan amount.
Its forgivable if you follow the rules IE spend it on labor etc.
CFAP3 PPP - 25% decline in revenue rule
