Can an applicant claim micro entity status based on income from a foreign country?

Can an applicant claim micro entity status based on income from a foreign country?

Yes, an applicant can claim micro entity status based on income from a foreign country. The MPEP clarifies:

“For purposes of qualifying for micro entity status based on the gross income limit, the gross income in the foreign currency must be converted into United States dollars at the exchange rate in effect on the date the micro entity certification is filed.”

This means that if you’re an applicant from a foreign country, you can still qualify for micro entity status if your income, when converted to U.S. dollars, does not exceed the gross income limit. It’s important to use the correct exchange rate on the date of filing your micro entity certification to ensure accurate calculation.

To learn more:

• micro entity
• foreign income
• currency conversion