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YPO GOLD NE - Back to work and PPP with Nutter - (3:00pm - 4:15pm) - Shared screen with speaker view
Marc Boyle
We received PPP funds but are since doing well and had separately spent on CapEx. The economic harm was probably half of funds received. Do we need to return part of PPP funds? Also, will we be restricted in taking distributions?
Tim Kreytak
From an accounting standpoint, our understanding is that if forgiveness is not granted by 12/31/2020 (Year end), then PPP will sit on balance sheet as a liability(loan) and as such will have a positive tax implication for 2020. Expecting 100% to be forgiven.
Rick Marcus
In Massachusetts if you are coming from out of state what are the test protocols so you do not have to quarantine?
Brian Galonek
Has there been any legal action involving employees suing their employer because they were required to work and got sick with covid as result. How much risk do companies have in these situations?