IPG Form I
- 1. The first question in Section I asks about entity type, but I don't understand how my business fits in these categories. What should I select?
- 2. The fourth question in Section I is #1. I own the business, but don't make $106k per year. How should I answer this question?
- 3. My business is wholly owned by another business. In the fourth question in Section I (#1), should I provide our parent company's 10-K?
- 4. Question #11 in Section I asks about "State employment, including contractual employment of services". Should I select "Yes" or "No" if I have current or past contracts with the State?
Most businesses fall under "Other Privately Held Entity, not including Sole Proprietorships", including LLCs, partnerships, and corporations. If your business does not clearly fit within one of the other options, select this answer.
NOTE: Publicly traded entity is a corporation whose shares are bought and sold in public markets (e.g. NYSE, NASDAQ, etc.). Only select "Sole Proprietorship" or "Not-for-profit entity" if you selected the same under "Company Type" in the Vendor Information section.
If you are the sole owner of the business, then your percentage of ownership (100%) exceeds 5%. Select "Yes, the information is not publicly available", download, complete and attach the ownership form and make sure to provide Yes/No answers in questions #5-#20.
NOTE: Most businesses should select a "Yes" response. Only select "No" if your business has 20 or more owners, where no one (individual or entity) owns more than 5%, no one is entitled to more than 5% of the company's distributive income, AND no one has ownership or distributive income rights valued in excess of $106,447.20.
Do not provide your parent company's 10-K. You need to select "Yes, the information is not publicly available", download, complete and attach the ownership form. Make sure you selected "Yes" in the second question in Section I and attach completed parent disclosures. Your parent company's 10-K would be appropriate for inclusion or reference in the parent disclosure form.
The key word in question #11 of Section I is "employment". If any of the disclosed individuals or their relatives was an "employee" of the State, select "Yes".
NOTE: "Contractual employment" is different than having a contract to provide goods or services to the State.