SBA Reaffirms Size Is Determined Based on the Latest Three Fiscal Years and May Consider A Later-Filed Tax Return.
May 3, 2012
The U.S. Small Business Administration (“SBA”) size regulations provide that the size of a business concern that has been in business for three or more years is based upon the average annual receipts (“AAR”) of such concern for its three most recently completed fiscal years as of the date of the concern’s self-certification. 13 C.F.R § 121.104(c)(1). The size regulations clarify that…