f. What qualifies as payroll costs? Paycheck Protection Program

FAQ#: 216 published 4-23-2020

PPP III. Temporary New Business Loan Program: Paycheck Protection Program

Effective Date: This rule is effective April 14, 2020.

f. What qualifies as “payroll costs?”

Payroll costs consist of compensation to employees (whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips); payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care coverage, including insurance premiums, and retirement; payment of state and local taxes assessed on compensation of employees; and for an independent contractor or sole proprietor, wages, commissions, income, or net earnings from self-employment, or similar compensation.

Reference Resource: SBA-2020-0015-0001

Comment Date: Comments must be received on or before May 15, 2020.

To submit your comment on this topic here: SBA-2020-0015-0001



Comment | Suggestion | Feedback

Do the requirements for loan pledges under 13 CFR 120.434 apply to PPP loans pledged for borrowings from a Federal Reserve Bank (FRB) or advances by a Federal Home Loan Bank (FHLB)?

FAQ#: 223 published 4-23-2020 1 min. 47 seconds read

Read


PPP 4. Additional Information SBA may provide further guidance, if needed, through SBA notices that will be posted on SBA's website

FAQ#: 222 published 4-23-2020 26 seconds read

Read


a. I have income from self-employment and file a Form 1040, Schedule C. Am I eligible for a PPP Loan? PPP 1. Individuals With Self-Employment Income Who File a Form 1040, Schedule C

FAQ#: 221 published 4-23-2020 2 min. 7 seconds read

Read


1. Affiliation Rules Generally. Are affiliates considered together for purposes of determining eligibility? Paycheck Protection Program

FAQ#: 220 published 4-23-2020 2 min. 48 seconds read

Read


2. Faith-Based Organizations Paycheck Protection Program

FAQ#: 219 published 4-23-2020 8 min. 52 seconds read

Read


b. Could I be ineligible even if I meet the eligibility requirements in (a) above? Paycheck Protection Program

FAQ#: 218 published 4-23-2020 1 min. 9 seconds read

Read


c. How do I determine if I am ineligible? Paycheck Protection Program

FAQ#: 217 published 4-23-2020 29 seconds read

Read


f. What qualifies as payroll costs? Paycheck Protection Program

FAQ#: 216 published 4-23-2020 1 min. 49 seconds read

Read


g. Is there anything that is expressly excluded from the definition of payroll costs? PPP III Paycheck Protection Program

FAQ#: 215 published 4-23-2020 1 min. 51 seconds read

Read


a. Who is eligible to make PPP loans? PPP III Paycheck Protection Program

FAQ#: 214 published 4-23-2020 2 min. 20 seconds read

Read