Seek Capital Help FAQs
What counts as payroll costs?
Payroll cost include:
- Salary, wages, commissions, or tips (with a maximum of $100,000/yr for each employee);
- Employee benefits – costs for vacation, parental, family, medical, or sick leave, health care insurance premiums, and retirement benefits
- State and local taxes for employee compensation
- Covered worker protection expenditure such as personal protective equipment and adaptive investments to help a loan recipient comply with federal and/or state health and safety guidelines; and
- For the self-employed (sole proprietor or independent contractor): any wages, commissions, income, or earnings you make (capped at $100,000 per year).
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