April 6, 2020 - NFP CARES Act Webinar CARES Act Webinar - NFP - Final | Page 15

PAYCHECK PROTECTION PROGRAM (PPP)
“PAYROLL COSTS” EXCLUDES:
Compensation in excess of $100,000 annual
salary (prorated for the covered period);
Certain taxes imposed or withheld during the
covered period; compensation of employee w/
principal residence outside of the US;
qualified sick leave wages (for which credit
is allowed under the Families First
Coronavirus Response Act (FFCRA);
or qualified family leave wages (for
which credit is allowed under section 7003 of
the FFCRA).
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