News & Analysis as of

Gross Receipts Small Business

Eversheds Sutherland (US) LLP

Proposal to reform San Francisco gross receipts tax

On May 6, 2024, the San Francisco Controller and Treasurer released their proposed final tax reform ordinance language. To become effective, San Francisco voters will have to pass a measure on the November 5, 2024 ballot by a...more

Venable LLP

Federal Court Potentially Upends Small Business Administration's Method for Calculating Contractors' Annual Receipts in...

Venable LLP on

On May 18, 2023, the U.S. District Court for the District of Columbia (DDC) issued a decision with significant potential consequences for federal contractors and the U.S. Small Business Administration (SBA). ...more

Eversheds Sutherland (US) LLP

IRS provides welcome flexibility and clarification in final small business tax accounting regulations

On Wednesday, December 23, Treasury and the IRS released final regulations under sections 263A, 448, 460, and 471 of the Internal Revenue Code (Code) to implement statutory changes made by the Tax Cuts and Jobs Act (the...more

Jones Day

Overpaid Executive Gross Receipts Tax Approved in San Francisco

Jones Day on

The new tax takes effect on January 1, 2022, and will be imposed on businesses in which the highest-paid executive’s total compensation is more than 100 times the median San Francisco-based employee compensation. San...more

Proskauer - Tax Talks

Coronavirus: Comparing the Tax Proposals in the HEALS and HEROES Acts

Proskauer - Tax Talks on

On July 27, 2020, Senate Republicans introduced a series of bills and proposals that have been collectively referred to as the “Health, Economic Assistance, Liability Protection and Schools Act” (the “HEALS Act”). The HEALS...more

Tucker Arensberg, P.C.

Does The SBA Consider Me A Small Business? Important Information to Know For COVID-19 Relief

Tucker Arensberg, P.C. on

There is an important question every business should be asking itself right now: “Does my business qualify as a small business?”  For some businesses, this is a fairly simple analysis, but for others it is much more complex....more

Stinson - Government Contracting Matters

Small Business Runway Act Regulation Goes Into Effect – You May Have a Choice in How to Calculate Your Size

Being a small business can have its advantages. Federal procurement rules provide that certain contracting opportunities may be set-aside for small business competition. Small businesses also may be exempt from certain...more

Woods Rogers

Small Business Size Standards: Calculation Of Annual Average Receipts

Woods Rogers on

As reported in the Federal Register, The U.S. Small Business Administration (SBA or Agency) is modifying its method for calculating average annual receipts used to prescribe size standards for small businesses. Fed. Reg. Vol....more

Miles & Stockbridge P.C.

The Small Business Runway Extension Act of 2018 Is Law, So It’s Five Years Instead of Three, But Starting When?

Miles & Stockbridge P.C. on

On Monday, December 17, 2018, President Trump signed into law the Small Business Runway Extension Act of 2018. To determine whether a federal contractor qualifies as a small business, the yardstick will now be the average of...more

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