NJ S3401

Modifies eligibility criteria for New Jersey's small business set-aside program by applying maximum employee requirements only to businesses without an applicable federal revenue standard under 13 CFR s.121.201

Changes the gross revenue calculation period from three years to five years for businesses that have been operating for five or more completed tax years

Requires businesses operating for less than five complete tax years to calculate gross revenues by dividing total revenues by weeks in business and multiplying by 52

Establishes a special calculation method for businesses with a short tax year, using revenues from the short year plus four full years divided by total weeks and multiplied by 52

Supersedes existing regulations at N.J.A.C. 17:13-2.1(a) regarding small business eligibility determinations