Section 122:24-1-08 - Small business enterprise(A) In order for a business entity to qualify as a small business enterprise either its assets cannot exceed fifty million dollars or its annual sales cannot exceed ten million dollars. These calculations are to be made at the time of each qualifying investment and are to be calculated based upon generally accepted accounting principles.(B) In order for a business entity to qualify as a small business enterprise, the business is to meet division (A)(1)(c) of section 122.86 of the Revised Code as of the date of each qualifying investment.(C) A small business enterprise is to annually update its registration information for the investOhio program, described in rule 122:24-1-03 of the Administrative Code, with the director. This report is to be in a format established by the director and is to provide the director with information necessary for the director to make a determination as to the entity's status as a small business enterprise as well as whether the entity is complying with requirements associated with its expenditure of the qualifying investments.Ohio Admin. Code 122:24-1-08
Effective: 1/9/2025
Five Year Review (FYR) Dates: 10/25/2024 and 01/09/2030
Promulgated Under: 119.03
Statutory Authority: 122.86
Rule Amplifies: 122.86
Prior Effective Dates: 11/08/2011 (Emer.), 03/29/2012, 12/27/2018