Employee Retention Credit
Services
Federal COVID Employee Retention Credit
A refundable payroll tax credit based on qualification wages paid to an eligible employee. The credit was created to assist companies that continued to pay employees during the COVID-19 pandemic. The credit is currently available for wages paid in 2020 and 2021.
- Eligible Employers
- Full or partial business disruption and/or closure due to the COVID-19 pandemic
- Quarterly decline in gross receipts as compared to 2019
- 100 or fewer full-time equivalent employees during 2020 to qualify for 2020 benefits
- 500 or fewer full-time equivalent employees during 2021 to qualify for 2021 benefits
- Maximum Amount of ERTC Available for Each Employee
- $5,000 per employee for 2020
- $7,000 per employee per quarter for the first three quarters of 2021
- PPP Loan Coordination
- PPP Loan recipients can qualify for the CV-ERC. A review of the PPP loan proceeds and qualified wages must be performed in order to calculate the CV-ERC correctly
- NHospitality
- NManufacturing
- NLaw Firms
- NArchitectural Firms
- NMarketing Firms
- NAuto Dealerships
- NDental
- NSpa/Massage
- NVeterinarian/Animal Hospitals
- NPhysical Rehab Groups
- NResorts/Ranches
- NLandscape
- NDistilleries/Breweries
- NCampgrounds
- NFamily Practice
- NConstruction
- NChildren Daycare
- NEye Care
- NReal Estate Firms
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