25 IAC 1.5-3-1 Qualification as small business

Sec. 1. (a) For purposes of determining whether a business is a small business, all affiliates of the business will be considered as part of the business. (b) Whenever reference is made to a number of employees in this section, the number shall mean the average number of employees that the business had during its most recently completed fiscal year. (c) A business is not a small business if it fails to meet the following restrictions: (1) For a construction business: average gross annual receipts for the current and three (3) previous fiscal years are four million dollars ($4,000,000) or less. (2) For a manufacturing business: the number of its employees is one hundred (100) or less. (3) For a retail business: average sales and receipts for the current and three (3) previous fiscal years are five hundred thousand dollars ($500,000) or less. (4) For a service business: average sales for the current and three (3) previous fiscal years are five hundred thousand dollars ($500,000) or less and the number of its employees is twenty-five (25) or less. (5) For a wholesale business: annual sales for its most recently completed fiscal year are four million dollars ($4,000,000) or less.