Nevada § 231.1405 - Eligibility for certification: General requirements

§ 231.1405. Eligibility for certification: General requirements

1. To be eligible for certification as a local emerging small business, a business

must: (a) Be in existence, operational and operated for a profit; (b) Maintain its principal place of business in this State; (c) Be in compliance with all applicable licensing and registration requirements in

this State; (d) Not be a subsidiary or parent company belonging to a group of firms that are owned

or controlled by the same persons if, in the aggregate, the group of firms does not

qualify pursuant to subsection 2 or 3 for designation as a tier 1 firm or a tier 2

firm; and (e) Qualify pursuant to subsection 2 or 3 for designation as a tier 1 firm or a tier

2 firm. 2. To be designated a tier 1 firm, a business must not employ more than 20 full-time

or full-time equivalent employees and: (a) If the business is involved in providing construction services, the average annual

gross receipts for the business must not exceed $1.7 million for the 3 years immediately

preceding the date of application for certification as a local emerging small business;

or (b) If the business is involved in the sale of goods or in providing services other

than construction services, the average annual gross receipts for the business must

not exceed $700,000 for the 3 years immediately preceding the date of application

for certification as a local emerging small business. 3. To be designated a tier 2 firm, a business must not employ more than 30 full-time

or full-time equivalent employees and: (a) If the business is involved in providing construction services, the average annual

gross receipts for the business must not exceed $3.5 million for the 3 years immediately

preceding the date of application for certification as a local emerging small business;

or (b) If the business is involved in the sale of goods or in providing services other

than construction services, the average annual gross receipts for the business must

not exceed $1.3 million for the 3 years immediately preceding the date of application

for certification as a local emerging small business. 4. In determining if a business qualifies for a designation as a tier 1 firm or a

tier 2 firm pursuant to subsection 2 or 3, the Office shall use the criteria set forth

in NRS 231.14052 to determine whether an employee is a full-time equivalent employee for the purposes

of such a designation.