qualified small business
Defined in 2 places of the United States Code.
The term “qualified small business” means any domestic corporation which is a C corporation if—
(A) the aggregate gross assets of such corporation (or any predecessor thereof) at all times on or after the date of the enactment of the Revenue Reconciliation Act of 1993 and before the issuance did not exceed $50,000,000,
(B) the aggregate gross assets of such corporation immediately after the issuance (determined by taking into account amounts received in the issuance) do not exceed $50,000,000, and
(C) such corporation agrees to submit such reports to the Secretary and to shareholders as the Secretary may require to carry out the purposes of this section.
Source
- 1994–202526 U.S.C. § 1202Internal Revenue Code · Partial exclusion for gain from certain small business stock · for purposes of this section
The term “qualified small business” means any domestic corporation which is a C corporation if—
(A) the aggregate gross assets of such corporation (or any predecessor thereof) at all times on or after the date of the enactment of the Revenue Reconciliation Act of 1993 and before the issuance did not exceed $75,000,000,
(B) the aggregate gross assets of such corporation immediately after the issuance (determined by taking into account amounts received in the issuance) do not exceed $75,000,000, and
(C) such corporation agrees to submit such reports to the Secretary and to shareholders as the Secretary may require to carry out the purposes of this section.
Source
- 2025–present26 U.S.C. § 1202Internal Revenue Code · Partial exclusion for gain from certain small business stock · for purposes of this section
The term “qualified small business” means, with respect to any taxable year—
(i) a corporation or partnership, if—
(I) the gross receipts (as determined under the rules of section 448(c)(3), without regard to subparagraph (A) thereof) of such entity for the taxable year is less than $5,000,000, and
(II) such entity did not have gross receipts (as so determined) for any taxable year preceding the 5-taxable-year period ending with such taxable year, and
(ii) any person (other than a corporation or partnership) who meets the requirements of subclauses (I) and (II) of clause (i), determined—
(I) by substituting “person” for “entity” each place it appears, and
(II) by only taking into account the aggregate gross receipts received by such person in carrying on all trades or businesses of such person.
Source
- 2015–present26 U.S.C. § 41Internal Revenue Code · Credit for increasing research activities · for purposes of this section