Employee Retention Credit (“ERC”) (Details Narrative) |
3 Months Ended |
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Sep. 30, 2021
USD ($)
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| Employee Retention Credit | |
| Employee retention credits, description | Company’s share of certain payroll taxes equal to 70% of the qualified wages paid to employees between July 1, 2021 and September 30, 2021. Qualified wages are limited to $10,000 per employee per calendar quarter in 2021 for a maximum allowable ERC per employee of $7,000 per calendar quarter in 2021. For purposes of the amended ERC, an eligible employer is defined as having experienced a significant (20% or more) decline in gross receipts during one or more of the first three 2021 calendar quarters when compared to 2019. |
| Employer shares percentage | 70.00% |
| Qualified wages limitation under the ERC program | $ 10,000 |
| Maximum ERC per employee | 7,000 |
| Employee retention credit | $ 1,975,000 |
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- References No definition available.
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- Definition Employee retention credit. No definition available.
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- Definition Employee retention credits, description. No definition available.
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- Definition Employer qualified percentage of refundable tax credit in relationship to qualified wages under the ERC program. No definition available.
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- Definition Maximum ERC per employee. No definition available.
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- Definition Qualified wages limitation under the ERC program. No definition available.
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