The PPPFA also permits employers that receive PPP loan forgiveness to continue deferring payment of the employer share of the Social Safety tax beneath CARES Act via December 31, 2020. Deferred employer Social Safety tax amounts will be due in two equal payments in December 2021 and 2022. Payroll fees incurred but not paid in the course of the borrower's final pay period of the Covered Period are eligible for forgiveness if paid on or just before the subsequent common payroll date. Otherwise, payroll expenses will have to be paid for the duration of the Covered Period . For example, if a little enterprise received a loan for $50,000, it have to devote at least $30,000 on payroll fees during the applicable Covered Period to be eligible for 100% forgiveness of the loan quantity.
The Summit County CARES Little Organization Grant Plan will give grants from $five,000 up to $25,000, dependent on the number of personnel. The applicant enterprise will have to demonstrate a important impact as a outcome of the COVID-19 pandemic to be considered for funding. The Organization Expansion and Retention grant is administered by the Utah Governor’s Office of Economic Improvement.
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