Are you looking to become a licensed construction contractor? Are you already licensed and that pesky renewal date is on the horizon?
Let’s begin by answering the question “Who needs a contractor’s license?”
A contractor’s license is required prior to bidding, contracting, offering, or negotiating projects of $25,000 or more.
Now you may be asking “What do I need to obtain a contractor’s license?”
The license application process includes an exam, financial statement, references, completion of application and payment of applicable fees, and completion of review by the Board for Licensing Contractors. The Board meets in January, March, May, July, September, and November. The application is due on the 20th of the month prior to the Board meeting.
Ok…”Can I get help with this?”
The financial statement (balance sheet) required by the Board must be from a Certified Public Accountant. Initial License applications require an audited balance sheet for those seeking a monetary limit greater than $1,500,000, and a reviewed balance sheet for a monetary limit of $1,500,000 or less. Renewal license applications require a self-prepared or compiled financial statement for limits of $1,500,000 or less, and a reviewed financial statement for a monetary limit exceeding $1,500,000.
Whether you are applying for an initial license or are simply needing to renew a current one, BCS can perform all of your accounting needs. We can assist you in determining the type of service you require, whether it is an audit, review, or compilation engagement, and we are committed to helping clients achieve their goals. We also offer several other services for contractors, which can be found here.