PPP Loan Data — US Taxes Inc, Trenton, NJ
US Taxes Inc is a corporation located at 3673 Mercerville Quakerbridge Rd in Trenton, New Jersey that received a Coronavirus-related PPP loan from the SBA of $47,200.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
US Taxes Inc in Trenton, NJ received a Paycheck Protection Loan of $47,200 through PNC Bank, National Association, which was approved in May, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, US Taxes Inc's 2019 payroll expenses are estimated to be at least $226,560.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,312 per employee1
Reported PPP Proceed Usage:
On the PPP application, US Taxes Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,200
Business Information - US Taxes Inc in Trenton, NJ
3673 Mercerville Quakerbridge Rd
Trenton, NJ 8619
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Trenton
In the Trenton area, 4 businesses in the "Tax Preparation Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $20,850 (compared to this company's $47,200).
Similar Nearby Businesses Who Received PPP Funding:
Accountax Group LLC
Industry PPP Comparison Statistics
Nationwide, 50,853 businesses in the "Tax Preparation Services" industry received a total of $1.1B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 3 employees, 40% lower than US Taxes Inc's reported 5 employees, and received an average PPP loan of $21,684, 54% lower than this company's loan of $47,200.
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