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Current as of January 01, 2024 | Updated by FindLaw Staff
A business enterprise shall be eligible for certification as a local business enterprise if the business enterprise:
(1) Has its principal office located physically in the District of Columbia;
(2) Requires that its chief executive officer and the highest level managerial employees of the business enterprise perform their managerial functions in their principal office located in the District;
(2A) Can demonstrate one of the following:
(A) More than 50% of the employees of the business enterprise are residents of the District;
(B) The owners of more than 50% of the business enterprise are residents of the District;
(C) More than 50% of the assets of the business enterprise, excluding bank accounts, are located in the District; or
(D) More than 50% of the business enterprise's gross receipts are District gross receipts; and
(3) Can demonstrate one of the following:
(A) The business enterprise is licensed pursuant to Chapter 28 of Title 47;
(B) The business enterprise is subject to the tax levied under Chapter 18 of Title 47; or
(C) The business enterprise is a business enterprise identified in § 47-1808.01(1) through (5) and more than 50% of the business is owned by residents of the District.
Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 2-218.31. Local business enterprises. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-2-218-31/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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