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What is the full scope of 'Payroll Costs' as termed in the PPP loan?

CaliforniaStimulus

in reading the loan documentation I've been able to find, I noticed it specifically excludes using the monies to pay Federal Taxes. I am trying to find out if Worker's compensation payments are included or excluded in the loan as they are a payroll cost, but they are not specifically payments to employees.

1 reply

Apr 15, 2020
Workers' compensation fees are not considered approved payroll costs under the Paycheck Protection Program. Therefore, it is important to keep in mind that a minimum of 75% of the loan proceeds must be used towards approved payroll costs.
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