To calculate this amount,
- Remove from your calculation any employees who received cash compensation that exceeded an annualized rate of $100,000 in 2019, or who were not employed by you at any point in 2019.
- Add together the total cash compensation costs paid during the Covered Period for all employees who received cash compensation that did not exceed an annualized rate of $100,000 in 2019. Cash compensation is "The sum of gross salary, gross wages, gross tips, gross commissions, paid leave (vacation, family, medical or sick leave, not including leave covered by the Families First Coronavirus Response Act), and allowances for dismissal or separation paid or incurred during the Covered Period. Do not include qualified wages taken into account in determining the Employer Retention Credit. "