As the Federal government continues to seek expanded funding for the Paycheck Protection Program (PPP), there are many companies that have received their loan funds and started the 8-week period to use the funds. The main benefit of the PPP is that it provides forgiveness of the loan if the borrower maintains its workforce (headcount) and salaries during the 8-week period after receiving the loan funds.
以下是与PPP贷款减免相关的一些重要条款:
- 75% / 25%规则 – The SBA with its Interim Final Rule included a provision that allows up to 25% of the forgivable amount to be related to non-payroll related items. Limiting non-payroll costs to 25% of the forgiveness amount aligns the overarching focus on keeping workers paid and employed.
- 与员工数量相关的宽恕减少 – Borrowers that use loan proceeds for allowable purposes may have their forgiveness reduced if their full-time equivalent (FTE) employees are not the same as they were during a base period as defined by the CARES Act. 这是, if the borrower’s FTEs during the base period in 2019 is greater than the number of FTEs during the 8-week period after receiving the loan funds then the forgiveness will be reduced by that percentage.
- 减少与薪金和工资有关的宽免 – Borrowers that responded to the COVID-19 pandemic by reducing employee wages and salaries may also have a reduction of the loan forgiveness if that reduction was greater than 25% of non-highly compensated employees, as defined by the CARES Act. 减少的数额只与没有领取工资的员工有关, during any single pay period during 2019, 年薪:年薪超过100美元的工资或薪金,000.
- Opportunity for exemption from reduction – There is an opportunity for the borrower’s forgiveness reduction to not be considered if they meet the re-hire exemption. If a borrower were to experience a reduction of FTEs between February 15, 2020 and April 26, 2020 (i.e. 裁员, 休假等) and/or a reduction in the salary or wages of 1 or more employees as described in the CARES Act, 他们是合格的. In order to meet the exemption, 借款人必须在6月30日之前消除对外贸易增加额的减少, 2020年和/或取消对这些员工的薪金或工资的削减.
To complicate things there are several unclear matters to be addressed in the forgiveness provisions. 以下事项需要财政部或小企业管理局进一步澄清, as outlined below to help you prepare:
1. 75%/25%规则是基于贷款收益的允许用途, 但这些费用是需要发生还是支付,还是发生并支付. As stated in the CARES Act forgiveness is defined as the sum of costs incurred and payments made during the covered period. 《bet9平台游戏》中“发生和支付”的术语
2. 《bet9平台游戏》是否打算将允许使用与宽恕金额区分开来?
The CARES Act specifically allows for the use of loan proceeds to pay interest on any other debt obligations that were incurred before the 8-week loan period, which recognizably could be quite broad, 然而, 在《bet9平台游戏》的豁免部分,没有提到其他债务义务.
此外,奖金可能也包括在最高贷款计算中. 在贷款期间,奖金的累积是否被允许使用还有待观察, or does it have it to be paid. What if bonuses paid represented what an employer expected to pay for the 2020 service; could that be included in allowable uses and part of the forgiveness amount?
3. How do borrowers calculate an FTE during the 8-week period and the base periods for the reduction of forgiveness related to the number of employees?
There are a couple issues here. 《bet9平台游戏》没有具体说明全职同等工作的定义.e. is it based on a 30 hrs work week, 37.5小时,40小时.等). 也, 计算是根据基期(二月十五日)的每月平均就业人次计算, 2019 through June 30, 2019 or January 1, 2020 through February 29, 2020) which may include a partial month. 另一个问题是,如果雇员自愿终止雇佣关系怎么办. 这是否违背了公司的宽恕计算?
4. 借款人如何计算2020年2月15日和2020年4月26日的总贸易量?
In order to qualify for the re-hire exemption, borrowers will need to validate that they had a reduction of either FTEs or salaries and wages during the dates described in the CARES Act. 但是,如前一项目所指出的,对某一期间的经常工作岗位并没有明确的计算.
此外,如何计算指定日期的对外贸易总贸易额也不清楚.
5. 没有收到的员工的定义是什么, during any single pay period in 2019, 年薪:年薪超过100美元的工资或薪金,000.
The CARES Act requires employers to consider in determining the reduction related to salaries and wages of any employee that did not receive an annualized wage or salary of $100,000 during any pay period in 2019. Interpreting this definition is causing confusion because factoring in a bonus during 2019 for a non-highly compensated employee could be the difference between including the employee or not.
6. The definition of the wage reduction according to the CARES Act for non-highly compensated is a comparison between the most recent full quarter during which the employee was employed before the covered period and the 8-week period.
在计算减少的美元金额时, the CARES Act requires borrowers to compare the most recent full quarter during which the employee was employed before the 8-week loan period. 如果这两个期限之间的差额超过25%,借款人的宽免将进一步减少. 然而,这两个时期是不可比较的. A full quarter could be 12 weeks; it could be 13 weeks. 无论如何, a full quarter is not 8 weeks so an employee’s wage and salary should be expected to be less than during the most recent full quarter. Is that really the intention of the CARES Act? 或者它是在比较这两个时期的周或双周工资,并将它们相互比较?
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