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Re: SBA PPP and EIDL Small Business Loans (some money is forgivable) Funny situation. 1065 Partnership owned by S-Corp (owned by the only active partner who receives a base salary, and not just a distribution). S-Corp received PPP predicated on the portion of salary paid in 2019 to the S Corp as "payroll". Can the partnership also receive PPP based on the same? Or is that a "double dip"? If yes, are the non active partners (distribution only) eligible to receive funds from the PPP loan if they would start on salary now?
June 26, 2020, 10:43:00 AM