Definitions:
Maryland Small business: 500-Employee Limit
TEDCO evaluates whether a company’s principal place of business is located in Maryland by considering the following criteria:
(1) Do at least fifty percent (50%) of the company’s employees (FTE) reside or work in Maryland? Employees are individuals to whom the company issues W-2s and from whose pay it withholds the appropriate income, Social Security, Medicare, unemployment, and other taxes under federal and state tax rules and regulations (independent contractors, vendors, accountants, banking and other professionals engaged by a company and issued a Form 1099 are not considered in the determination of a company’s principal place of business);
(2) Is the “nerve center” of the company’s business located in Maryland? As articulated by the U.S. Supreme Court, a company’s principal place of business is normally the location at which it maintains its headquarters, but that headquarters must be the actual center from which the company’s officers direct, control, and coordinate the company’s activities; and
(3) Does the company lease or own a facility in Maryland, and if so, what type?
SBA’s Women-Owned Small Business (WOSB) definition is a company at least 51% owned and controlled by a female U.S. citizen.
SBA’s Small Disadvantaged Business (SDB) definition is a small business that is at least 51 percent owned by one or more individuals who are both socially and economically disadvantaged. SBA’s identified socially disadvantaged groups include: African Americans, Asian Pacific Americans, Hispanic Americans, Native Americans, and Subcontinent Asian Americans. Economically disadvantaged individuals are defined as those for whom impaired access to financial opportunities has hampered the ability to compete in the free enterprise system, in contrast to people in similar businesses who are not identified as socially disadvantaged.
Rural Maryland Small Business is a small business located in Talbot, Caroline, Dorchester, Wicomico, Somerset, Worcester, Cecil, Harford, Kent, Queen Anne’s, N. Baltimore, Frederick, Washington, Allegany, Garrett, Carroll, Charles, Calvert, or St. Mary’s County.
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