Iowa Admin. Code r. 261-52.7

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 261-52.7 - [Effective until 11/20/2024] Cottage industry

A cottage industry business may be eligible for certification as a TSB.

(1) Characteristics of these businesses include, but are not limited to:

a. At least 51 percent of business equipment shall be owned by targeted group persons.

b. Business risks and profits shall be borne by the targeted group person owner(s) proportionate to the owner's ownership.

(2) The intent of targeting some small businesses is to identify those businesses which have been traditionally excluded from economic growth. Therefore, for a cottage industry business, the residence and any adjacent outbuildings used by the cottage industry may be owned jointly with other family members.

(3) All other TSB eligibility standards apply to the cottage industry.

Iowa Admin. Code r. 261-52.7

Adopted by IAB January 17, 2018/Volume XL, Number 15, effective 2/21/2018