- The compensation of an individual employee in excess of $100,000 on an annualized basis, as prorated for the period during which the payments are made or the obligation to make the payments is incurred,
- Any compensation of an employee whose principal place of residence is outside the United States;
- Qualified sick and family leave wages for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act.
In general, payroll costs paid or incurred during the covered period are eligible for forgiveness. (More details of payroll expenses paid vs. incurred are listed in the FAQs below.) Salary, wages, or commission payments to furloughed employees, bonuses or hazard pay during the covered period may be eligible for forgiveness, provided they don’t exceed the $100,000 annual cap. (See the FAQs below for information on caps on owner-employee compensation.)Payments to independent contractors are not covered under the employer’s payroll.