2019 total wages, less individual wages over $100,000, plus payroll taxes and benefits, less 100% of fringe for any individual that makes over $100K of wages. All of that divided by 12 times 2.5.

Forgiveness formula is rather complicated and business will be heavily penalized for any wage reductions or headcount reductions. I also understand that there is no forgiveness for wages of any employee that makes over $100K (their addback is zero) only those under $100K. That makes up about 1/3 of our wages, so our forgiveness at best will be 50%...if we keep everyone employed, which we probably won't, so it will be less than that.