Qualified Small Business Law and Legal Definition
According to 26 USCS § 1202 (d) Qualified small business. For purposes of this section--
"(1) In general. The term "qualified small business" means any domestic corporation which is a C corporation if--
(A) the aggregate gross assets of such corporation (or any predecessor thereof) at all times on or after the date of the enactment of the Revenue Reconciliation Act of 1993 [enacted Aug. 10, 1993] and before the issuance did not exceed $ 50,000,000,
(B) the aggregate gross assets of such corporation immediately after the issuance (determined by taking into account amounts received in the issuance) do not exceed $ 50,000,000, and
(C) such corporation agrees to submit such reports to the Secretary and to shareholders as the Secretary may require to carry out the purposes of this section." Sivatharan Natkunanathan v. Comm'r, T.C. Memo 2010-15 (T.C. 2010)
Legal Definition list
- Qualified Settlement Fund
- Qualified Section 501[c] [3] Bond
- Qualified Retirement Planning Services
- Qualified Retirement Plan
- Qualified Resident
- Qualified Small Business
- Qualified Small Issue Bond
- Qualified Social Worker
- Qualified Special Disabled Veteran
- Qualified Speech-Language Pathologist
- Qualified State Beef Council
Related Legal Terms
- Affected Item of Business
- Affidavit of Small Estate
- Affiliated Business Arrangement
- Agribusiness
- Alternate Payee to Qualified Domestic Relations Order
- Alternative Fuels Business
- Awarding Agency [Business Credit and Assistance]
- Base Closure Area [Small Business Administration]
- Better Business Bureaus
- Bill of Sale (Business)
