Examples of Annual payroll in a sentence
Annual payroll: $120,000 Average monthly payroll: $10,000 Multiply by 2.5 = $25,000Add EIDL loan of $10,000 = $35,000 Maximum loan amount is $35,000iv.
Example 1 – No employees make more than $100,000 Annual payroll: $120,000Average monthly payroll: $10,000 Multiply by 2.5 = $25,000 Maximum loan amount is $25,000ii.
Example 2 – Some employees make more than $100,000 Annual payroll: $1,500,000Subtract compensation amounts in excess of an annual salary of $100,000: $1,200,000 Average monthly qualifying payroll: $100,000 Multiply by 2.5 = $250,000Maximim loan amount is $250,000 iii.
Annual payroll is calculated over the 12-month period preceding March 31st each year.
Annual payroll" means the total amount of wages paid by an employer during a calendar year, not meaning, however, to include that part of individual wages or salaries in excess of $12,000.[PL 2017, c.