§ 28047.1
62 words·~1 min read·
/ca/corporations-code/28047-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Smaller 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 six million dollars ($6,000,000), and average net income after federal income taxes, excluding any carryover losses, for the preceding two years no greater than two million dollars ($2,000,000).