Each taxpayer must use a consistent accounting method, which is a set of rules for determining how and when to report income and expenses. See Cash or Accural Method definitions

Report income in the tax year you earn it, regardless of when payment is received, and deduct expenses in the tax year you incur them, regardless of when payment is made.

The relationship in which a person directly, or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person.

For the purposes of Supplier Diversity certification, affiliation is implied if an individual or the company itself owns 20% or more of the applying company and 20% or more of another company(ies). The gross revenues of each company are combined to determine if the gross revenue standard is met. The summation must be under 15 million dollars.

A log-in ID to access the on-line services offered by the Department of Administrative Services. You can create a Biznet account by visiting https://biznet.ct.gov/AccountMaint/NewLogin.aspx

There are two main types of Bonding Limits:
Aggregate Work Capacity - means the maximum amount of work an applicant is capable of undertaking for any and all projects.
Single Project Limit - means the highest estimated cost of a single project that an applicant is capable of undertaking.

Your company’s business formal arrangement, i.e., corporation, limited liability company, limited liability partnership, general partnership, sole proprietorship.

Corporation: An association of persons created by statute as a legal entity. The law treats the corporation itself as a person which can sue and be sued. The corporation is distinct from the individuals (shareholders) who comprise it.

Limited Liability Company: A form of business consisting of one or more members to carry on business for profit but whose member(s) are generally insulated from liabilities of the Limited Liability Company (LLC).

Limited Liability Partnership: A form of business consisting of one or more general partners, jointly and severally responsible as ordinary partners, and by whom the business is conducted, and one or more special partners, contributing in cash payments a specific sum as capital to the common stock, and who are not liable for the debts of the partnership beyond the fund so contributed.

General Partnership: A form of business in which two or more people conduct business and share in the profits and losses of the business.

Sole Proprietorship: A form of business in which one person owns all the assets of the business and is solely liable for all the debts of the business.

The rules and regulations adopted by a corporation for its internal governance. By-laws usually contains provisions relating to shareholders, directors, officers and general corporate business. At the corporation’s initial meetings the bylaws are adopted. Bylaws are a private document not filed with any state authority.

A regular corporation governed by Subchapter C of the Internal Revenue Code which determines the tax treatment of the corporation.

Report income in the tax year you receive it and deduct expenses in the tax year you pay them.

The document prepared by the Office of the Secretary of the State that evidences the acceptance of articles of incorporation and the commencement of the corporate existence.

Work the small or minority business (SBE/MBE) on the state contract actually performs, manages or supervises. Work is not a commercially useful function if the SBE/MBE role is limited to that of an extra participant for the appearance of SBE/MBE participation involvement.

First and last name of the person who should be reached regarding your company's Supplier Diversity application.

The power to direct or cause the direction of the management and policies of any person, whether through the ownership of voting securities, by contract or through any other direct or indirect means. Control shall be presumed to exist if any person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing twenty per cent of more of any voting securities of another person.

The principal/s of the applicant firm must demonstrate financial resources to acquire ownership and past experience that verifies demonstrated capability to engage in business in the area for which certification is sought. It is of no consequence that other partners/owners, spouses or employees have these abilities, or resources.

Date company first came into existence.

Email address for the person indicated as the company contact person.

To determine if the majority owner(s) reported as being the owner of the enterprise is actively involved in, and to what degree exercises active daily control of the enterprise, the following documents and other business records, as available, will be reviewed.

Signed contracts and bidding documents Enterprise business licenses Resume and/or work history of enterprise principles Bank signatory cards Space & equipment leases and rental agreements Vehicle registrations Enterprise insurance documents Enterprise organizational chart Enterprise business plan

The designation of a firm or corporation which is required to register, record, or register and record the name with state, county or state and county officials.

Having the demonstrable background and technical competence necessary to weigh all advice given and to make independent and unilateral determinations relating to the activities engaged in by the applicant, including key determinations relating to the day to day work of employees and workforce involved operationally and technically in the specific endeavors which generate the applicant’s revenues.

• Not being engaged in other business or professional pursuits which preclude him/her from devoting what would be reasonably deemed an adequate amount of time to conduct the operation of the business;
• barring extenuating circumstances, being the sole or one of the required signatories on the enterprise checks, invoices, and contracts;
• being actively involved in the preparation and negotiation of bids and contracts for the enterprise;
• having substantial control over the hiring, promotion and firing of the employees of the enterprise;
• Substantial supervision of jobs that the enterprise undertakes, both on and off the job site;
• having unrestricted access and authority over necessary payroll, tax, personnel, insurance and other records and books of the enterprise;

Demonstrating expertise and experience in the subject area of its contracts. In lieu of such demonstrable experience and expertise, the majority owner or officer may document definite plans in the near future to gain such experience and expertise. Such plans may include the following:

• Participation in regular classes on the subject matter in question;
• Participation in special trades training programs on the subject matter in question;
• Participation in a joint venture covering the subject matter in question.

The above plans and activities must establish that the majority owner(s) is acquiring the necessary expertise and/or experience to exercise operational/managerial control over the enterprise.

1. In which 51% or more of the capital stock, if any, or assets of which are owned by a person or persons:
   1. Who exercise operational authority over the daily affairs of the enterprise,
   2. Who have the power to direct the management and policies and receive the beneficial interest of the enterprise, and
   3. Who are members of a minority (as defined below)
2. Who is an individual with a disability, or
   
3. Which is a non-profit corporation in which 51% or more of the persons who exercise operational authority over the daily affairs of the business and have the power to direct the management and policies and receive the beneficial interests of the business, except that a nonprofit corporation shall be construed to be a small contractor if such nonprofit corporation meets the requirements of subparagraphs (A) and (B) of this subdivision.

The number of years the company has been under the operational authority of current management. See Operational Authority and Control

The number of years your company has existed with its current legal business name. See Legal Business Name.

Having the power to make, legally and in practice, the definite decisions of the applicant without being subject to any agreement or document restricting control, or the approval or veto of any other person, business enterprise, or organization; and having dominant control in the conducting of all major aspects of the applicant. This includes:

• having dominant control over management and daily operations, and
• having the demonstrable background and technical competence necessary to weigh all advice given and to make independent and unilateral determinations relating to the activities engaged in by the applicant, including key determinations relating to the day-to-day work of employees and workforce involved operationally and technically in the specific endeavors which generate the applicant’s revenues, and
• having a thorough knowledge of the financial structure, policies and affairs of the applicant, and
• having dominant control of the financial affairs and accounts of the applicant and
• having dominant control over the hiring and firing of employees, including key employees, as well as any other personnel and workforce decisions of the applicant, and
• having dominant control over the solicitation and negotiation of contracts, marketing, estimating, and offering and acceptance or rejection of bids, and
• having dominant control over the purchase of goods, equipment, business inventory and service needed in the day-to-day operation of the applicant, and
• having dominant control over the applicant’s governing body, if any.

Certification type for Small and Minority Business Enterprises who have established a principal place of business in the State of Connecticut, but have not maintained such place of business for one year.

Under Connecticut General Statutes Section 4a-60g, any contractor, subcontractor, manufacturer or service company

Having dominant control over the day-to-day functions of company employees involved operationally and technically in the specific endeavors which generate the applicant’s revenues. See Operational Authority and Control definition.