P&L by Quarter, 2019–2021 Q1

Hudson Yards Trattoria LLC · EIN 82-4716923 · CPA: D. Ostrow & Co., prepared Feb 2022

Gross Receipts by Quarter

Quarter201920202021% Change vs 2019
Q1 (Jan–Mar)$742,300$731,650$522,400Q1'20 -1.4% / Q1'21 -29.6%
Q2 (Apr–Jun)$812,500$499,840—-38.4%
Q3 (Jul–Sep)$849,920$619,210—-27.1%
Q4 (Oct–Dec)$788,640$632,950—-19.8%
Annual$3,193,360$2,483,650—-22.2%
None of the 2020 quarters exceed 50% revenue decline. Therefore qualification on the gross-receipts test alone is not available. Eligibility rests on the partial-suspension test under governmental order — see Gov-Orders Citation Memo. The IRS disallowance letter (March 2024) acknowledged the revenue figures but disputed the suspension test on documentation-sufficiency grounds.

Quarterly P&L Detail — 2020 (qualifying quarters Q2–Q4)

Line itemQ1 2020Q2 2020Q3 2020Q4 2020
Gross receipts$731,650$499,840$619,210$632,950
— Indoor dining (when permitted)$586,400$0$32,000 (Sep only)$170,200
— Takeout / delivery$145,250$425,400$402,600$391,750
— Outdoor / sidewalk dining$0$74,440$184,610$71,000
COGS$226,810$165,000$199,000$204,500
Gross profit$504,840$334,840$420,210$428,450
Payroll (wages + ER FICA)$262,400$197,250$235,100$241,800
Rent + utilities$92,000$92,000$92,000$92,000
Other op exp$45,200$33,400$41,500$43,700
Operating profit / (loss)$105,240$12,190$51,610$50,950

Quarterly P&L Detail — 2019 (comparison year)

Line itemQ1 2019Q2 2019Q3 2019Q4 2019
Gross receipts$742,300$812,500$849,920$788,640
— Indoor dining$571,300$636,800$663,600$614,300
— Takeout / delivery$171,000$175,700$186,320$174,340
COGS$229,500$252,500$264,800$245,000
Gross profit$512,800$560,000$585,120$543,640
Payroll (wages + ER FICA)$258,900$272,400$284,100$265,800
Rent + utilities$91,000$91,000$91,000$91,000
Other op exp$48,000$52,300$54,800$50,600
Operating profit / (loss)$114,900$144,300$155,220$136,240

2021 Q1 P&L Detail (for ERC §3134 claim, indoor-dining restrictions through 2/13)

Line item2021 Q1
Gross receipts$522,400
— Indoor dining (limited Feb 14+)$84,200
— Takeout / delivery$362,500
— Outdoor / sidewalk dining (winter, limited)$75,700
COGS$168,500
Gross profit$353,900
Payroll (wages + ER FICA)$195,400
Rent + utilities$94,000
Other op exp$36,400
Operating profit / (loss)$28,100

Q1 2021 revenue decline vs Q1 2019: $522,400 vs $742,300 = -29.6%. This satisfies the 2021 ERC gross-receipts threshold (>20% decline under §3134) but the operator pursued the partial-suspension theory as primary qualification, consistent with the 2020 quarters.