i would appreciate if anybody can answer those 2 questions below.

1. S corp requirement
can you anybody advise me if there are any requirements to keep S Corp?
i am in California.
when i read IRS and FTB website, i dont see any income requirement but i saw an article somewhere that if the S corp has loss in 3 years row, loose S corp structure. not sure if its for IRS, FTB, or business license from State?
anything negatively impact to keep S corp if there are loss in 3 years in row?

2 PPP disbursement
also can you advise me if my understanding is correct for PPP disbursement.
i have 20k PPP and forgiveness was approved.
our PL has negative 15k (loss for 15K) without PPP and with PPP, it is 5k profit (20k ppp -15k loss) federal and state taxes are subject to only before PPP so it means that it will be we lost 15k and no tax other than minimum $800 to the state. Please confirm.