Current through November 6, 2024
Section 25 IAC 1.5-3-1 - Qualification as small businessAuthority: IC 4-13-1.3-4; IC 4-13.6-2-11; IC 4-13.6-3-1; IC 5-22-14-3
Affected: IC 4-13.6; IC 5-22-14
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.Indiana Department of Administration; 25 IAC 1.5-3-1; filed Jul 17, 1985, 11:48 a.m.: 8 IR 1698; filed Nov 3, 1988, 9:20 a.m.: 12 IR 526; readopted filed Nov 20, 2001, 9:30 a.m.: 25 IR 1265; readopted filed Aug 26, 2008, 8:31 a.m.: 20080910-IR-025080549RFAReadopted filed 10/31/2014, 1:19 p.m.: 20141126-IR-025140349RFAErrata filed 9/9/2020, 11:02 a.m.: 20200923-IR-025200470ACAReadopted filed 10/20/2020, 1:55 p.m.: 20201118-IR-025200463RFA