The Small Business Runway Extension Act of 2018 is now law. As we discussed in a previous post, the Act changes the look-back period for calculating gross annual receipts from three to five years for purposes of determining size. In the coming year the Small Business Administration will likely promulgate implementing regulations interpreting the new law. We will be closely monitoring developments.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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