If you answered no to all of these questions, you must make estimated tax payments using Form 1040-ES. To avoid a penalty, your total tax payments (estimated taxes plus withholding) during the year must satisfy one of the requirements we just covered.
European Union (EU) SME Definition. In the EU, a similar system is used to define Small to Medium Enterprises. A business with a headcount of fewer than 250 is classified as medium-sized; a business with a headcount of fewer than 50 is classified as small, and a business with a headcount of fewer than 10 is considered a micro-business.
In July 2011, the European Commission said it would open a consultation on the definition of SMEs in 2012. 1  In Europe, there are three broad parameters which define SMEs: 2  Micro-enterprises have up to 10 employees. 3  Small enterprises have up to 50 employees. 4  Medium-sized enterprises have up to 250 employees.