We've had questions about how businesses that are partnerships can apply for the federal Payroll Protection Program. Partnerships don't pay salaries to their owners. Partners are instead taxed on their share of the business profits. Because the new funding is geared toward salaries, the amount of money partnerships can request hasn't been clearly defined.
We are hoping for better clarification later this week when the guidelines for self-employed individuals comes out.
We are hoping for better clarification later this week when the guidelines for self-employed individuals comes out.
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