MBE status for out-of-state acquisition?

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November 08, 2022

by a searcher from Columbia University in New York, NY, USA

I have an operating company in another state and am seeking to get a MBE (minority-owned business) certification for it. I've run into a few hiccups that my current tax/legal team seems under-equipped to help with. Additionally, as we've gotten a few things done, I'm having some "good" problems around the way we set up the entities and do taxes. I imagine this community might have a few great pros that have dealt with these challenges. I'd love any recs.

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Reply by a searcher
from Emory University in Marietta, GA, USA
^redacted‌, all of the certifications are based on a couple of key concepts that are hard to get around. 1. Is the Minority a citizen, 2. is the minority in "Control" of the business (All decisions made and no other party can change that - Via Operating agreement), and 3. Does the Minority "Own" the business (51% of All Classes of Shares with no investors getting money before the minority). These phrases are iron clad in most state and government regulations. I can go into more detail if required.
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Reply by a searcher
from Columbia University in New York, NY, USA
^redacted‌ ^redacted‌ I appreciate the notes. The audience for this cert, which is a state-specific cert, are state, county, and muni bodies who are our customers. I have a specific cert that I am trying to get, though I understand many of the different certifications to have a residency requirement that I am trying to satisfy.
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