Interested in applying for a second time PPP loan, but not sure how to calculate gross receipts? The SBA has released a FAQ with help on this. See below for the calculations, as well as a link to the FAQ released by the SBA.
~Self-employed other than farmers and ranchers: sum of line 4 and line 75
~Self-employed farmers and ranchers: sum of lines 1b and 9
~Partnerships: sum of lines 2 and 8, minus line 6
~S-Corps: sum of lines 2 and 6, minus line 4
~For C-Corps: sum of lines 2 and 11, minus the sum of lines 8 and 9
~For nonprofits (Form 990): the sum of lines 6b(i), 6b(ii), 7b(i), 7b(ii), 8b, 9b, 10b, and 12 (column (A)) of Part VIII
~For nonprofits (Form 990-EZ): sum of lines 5b, 6c, 7b, and 9 of Part I.
~LLCs should follow the instructions that apply to their tax filing status in the reference periods.
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