(a) Business has the same meaning
as the term “business concern or concern” in 13 CFR 121.105.
(b) Small business definition.
(1) Small business has the same meaning
as the term “small business concern” in 15 U.S.C. 632(a),
as implemented in 13 CFR 121.101 through 121.107. Notwithstanding
the size standards set forth in 13 CFR 121.201, for purposes of this
subpart, a business is a small business if its gross annual revenue,
as defined in section 1002.107(a)(14), for its preceding fiscal year
is $5 million or less.
(2) Inflation adjustment. Every 5 years after
January 1, 2025, the gross annual revenue threshold set forth in paragraph
(b)(1) of this section shall adjust based on changes to the Consumer
Price Index for All Urban Consumers (U.S. city average series for
all items, not seasonally adjusted), as published by the United States
Bureau of Labor Statistics. Any adjustment that takes effect under
this paragraph shall be rounded to the nearest multiple of $500,000.
If an adjustment is to take effect, it will do so on January 1 of
the following calendar year.
