Suggestions for Calculating FTE for PPP Forgiveness

  • The Covered Period, which ranges from 8 to 24 weeks beginning on the date of your loan disbursement
  • Alternative Payroll Covered Period, which ranges from 8 to 24 weeks beginning on the first day of the payroll period beginning after the date of your loan disbursement.
  • Option 1–2/15/19 to 6/30/19
  • Option 2–1/1/20 to 2/29/20
  • Each employee counts as one (1) FTE.
  • Even if your employees collected overtime during your PPP period, they cannot count as more than one (1) FTE
  • Owner employees should not be included as part of the FTE calculation. Instead, they are covered in other payroll calculations.
  • Part time employees count as .5 FTE
  • For example, if you had 5 employees who worked an average of 20 hours per week, they would count as 2.5 FTEs

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