Recently, the Small Business Administration issued a proposed rule to change the manner in which it determines the size for those companies whose size is measured by revenues. The proposed rule, if implemented, will change the measurement from a company’s average annual receipts over three years to its average annual receipts over five years. The public has been waiting to see what the SBA would do for quite some time. On December 17, 2018, Congress passed the Small Business Runway Extension Act, where this concept was introduced. Shortly after passing the law, however, the SBA made it clear that the law, as changed, did not impact the SBA. Despite this, the SBA has now agreed to implement the change. This is a big deal to small businesses who perform work for the federal government.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the mid-Atlantic region. With over 185 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our twelve offices serve individual and corporate clients along the I95 corridor in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
Find out why Offit Kurman is The Better Way to protect your business, your assets and your family by connecting via our Blog, Facebook, Twitter, Instagram, YouTube, and LinkedIn pages. You can also sign up to receive Law Matters, Offit Kurman’s monthly newsletter covering a diverse selection of legal and corporate thought leadership content.
MARYLAND | PENNSYLVANIA | VIRGINIA| NEW JERSEY | NEW YORK | DELAWARE | WASHINGTON, DC