Proof of Qualifying Business Status

To demonstrate that a business is a qualifying business, the business must provide the MLSC with the following:

(a) certification, in a form and substance acceptable to the MLSC, executed by the Chief Executive Officer or other authorized representative of the business, that attests to the location of the principal place of business, the number of full-time-equivalent employees (35 hours or more per week) (FTEs) working for the business, and the percentage of FTEs who work at the principal place of business; (b) a fully developed business plan that includes long-term and short-term forecasts and contingencies of business operations, including research and development, profit, loss and cash flow projections and details of angel investor funding; (c) its federal tax identification number; (d) a letter from the business’s certified professional accountant that makes the representation that the business has gross revenues equal to or less than $500,000 in the fiscal year prior to application; (e) a Certificate of Good Standing, issued by the Massachusetts Secretary of the Commonwealth within the previous six (6) months; and (f) a Certificate of Good Standing, issued by the DOR within the previous six (6) months.

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Proof of Qualifying Business Status

Official source

To demonstrate that a business is a qualifying business, the business must provide the MLSC with the following:

(a) certification, in a form and substance acceptable to the MLSC, executed by the Chief Executive Officer or other authorized representative of the business, that attests to the location of the principal place of business, the number of full-time-equivalent employees (35 hours or more per week) (FTEs) working for the business, and the percentage of FTEs who work at the principal place of business; (b) a fully developed business plan that includes long-term and short-term forecasts and contingencies of business operations, including research and development, profit, loss and cash flow projections and details of angel investor funding; (c) its federal tax identification number; (d) a letter from the business’s certified professional accountant that makes the representation that the business has gross revenues equal to or less than $500,000 in the fiscal year prior to application; (e) a Certificate of Good Standing, issued by the Massachusetts Secretary of the Commonwealth within the previous six (6) months; and (f) a Certificate of Good Standing, issued by the DOR within the previous six (6) months.