They have been in business for a decade. Had increases of gross receipts in all quarters of 2020 and Q1 2021 relative to same quarters in 2019 (and prior quarter where applicable).
But in Q2 2021 they sold their business assets midway through the quarter, and thus their revenues for the quarter were down significantly.
Would they technically qualify for Q2 for the ERC on the wages that were paid before the sale, as a result of their decline in revenues.
I'm hoping there's some provision where you have to continue to keep the employees....or something. But if they do in fact qualify I want to make sure they know that and assist where I can. Fortunately we're not talking about a ton of wages but enough to make it worth our time if they qualify.
But I can't seem to find the answer to the question. To be clear, the company continues to operate today, and in fact has bought back most those assets and has employees again.