645.445 Small business; definitions.
Subdivision 1. Wherever the term "small business" is used in Minnesota Statutes or in any rule or program established thereunder, the definitions contained in this section shall apply unless the context clearly indicates that a different meaning is intended or required.
Subd. 2. "Small business" means a business entity organized for profit, including but not limited to any individual, partnership, corporation, joint venture, association or cooperative, which entity:
(a) Is not an affiliate or subsidiary of a business dominant in its field of operation; and
(b) Has 20 or fewer full-time employees; or
(c) In the preceding fiscal year has not had more than the equivalent of $1,000,000 in annual gross revenues; or
(d) If the business is a technical or professional service, shall not have had more than the equivalent of $2,500,000 in annual gross revenues in the preceding fiscal year.
Subd. 3. "Dominant in its field of operation" means having more than 20 full-time employees and more than $1,000,000 in annual gross revenues or $2,500,000 in annual gross revenues if a technical or professional service.
Subd. 4. "Affiliate or subsidiary of a business dominant in its field of operation" means a business which is at least 20 percent owned by a business dominant in its field of operation, or by partners, officers, directors, majority stockholders, or their equivalent, of a business dominant in that field of operation.
Subd. 5. Repealed, 1990 c 541 s 31
Official Publication of the State of Minnesota
Revisor of Statutes