News Summary

• We introduce a novel database of small business exemptions at the 3-digit NAICS industry level for 48 US States in 2023.
• Our dataset is derived using Large Language Model (LLM) technology, which is validated using more traditional Natural Language Processing (NLP) methods.
• We extend the same LLM-based screening approach to municipal ordinances, analyzing 3,241 jurisdictions.
• This municipal extension shows that local "small business" definitions are substantially more heterogeneous than those used at the state and federal levels.