New Statute Extends Small Business Size Standard Reference Period to Five (from Three) Years, Enabling More Companies to Qualify as Small
January 17, 2019
In December 2018 – just before Christmas – the Senate approved, and the President signed into law, the so-called “Small Business Runway Extension Act of 2018,” Pub. L. No. 115-324 (the “Act” or “statute”). This statute extends the three-year reference period for calculating a revenue-based small business’s size status to five years. This Act was intended – as implied by its name – to extend the…