We have not seen much change in relation to PPP loan forgivness, although there are a few notable updates. Payroll costs includes the wages up to $100,000 of annualized pay per employee. For those using the eight-week covered period, that is a maximum of $15,385 per individual, and for those using the 24-week covered period, that will be a maximum of $46,154 per individual. A company does not have to wait the full 24-weeks to file for forgiveness if they meet the spending requirements sooner. Let’s say you spend 100% of the loan amount on payroll costs after just 10…
