§ 28047
62 words·~1 min read·
/ca/corporations-code/28047A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Small business firm” means a person that proposes to transact, or transacts, business on a regular and continuous basis in California and, together with its affiliates, has a net worth of not more than eighteen million dollars ($18,000,000) and average net income after federal income taxes, excluding any carryover losses, for the preceding two years no greater than six million dollars ($6,000,000).