Statutes > New Mexico Statutes > Chapter 13 - Public Purchases and Property. > Article 1 - Procurement, 13-1-1 through 13-1-199. > Section 13-1-88 - Definition; small business.

Section 13-1-88 - Definition; small business.

13-1-88. Definition; small business.

"Small business" means a business, not a subsidiary or division of another business, having an average annual volume for the preceding three fiscal years which does not exceed one million five hundred thousand dollars ($1,500,000).