What is the Departments definition of a small business?
The Florida Department of Transportation will use the US Department of Transportation (USDOT)definition of a small business as defined by 49 CFR 26.65. The USDOT definition uses the Small Business Administration (SBA) definition which has different size standards for the type of work performed. The USDOT definition limits the size standard to $20.41 million. A business determines their size by averaging their annual gross receipts over the last three years. If their average gross receipts are under the SBA size standard for a particular type of work and under $20.41 million, the business would be considered a small business.
