California Corporations Code

§ 28047

CORP § 28047 Effective Jan 1, 2011Div. 3 · Title 4 · Ch. 1 · Art. 2

Statute text

“Small 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 eighteen million dollars ($18,000,000) and average net income after federal income taxes, excluding any carryover losses, for the preceding two years no greater than six million dollars ($6,000,000).

Legislative history

Amended by Stats. 2010, Ch. 516, Sec. 2. (SB 1155) Effective January 1, 2011.