NJ A2310

Maximum employee requirements for small business eligibility under New Jersey's Set-Aside Act would only apply to businesses without a federal revenue standard established at 13 CFR s.121.201

Gross revenue calculations for businesses operating five or more years would be based on revenues from the last five completed tax years divided by five, changing from the current three-year standard

Businesses operating less than five complete tax years would calculate gross revenues by dividing total revenues by weeks in business, then multiplying by 52

Businesses with five or more years but including a short tax year would calculate revenues using the short year plus four full years, divided by total weeks, multiplied by 52

These requirements would supersede existing regulations at N.J.A.C. 17:13-2.1(a) and take effect immediately