By Shauna Krause, President, Capitol Services
Learn a NV contractor can more than ‘double down’ in qualifying licenses. I also help another with an ‘either/ or’ decision as he opens a new chapter. You might get a waiver, but you will definitely work to make it happen!…
Q: We are going to be applying for a Nevada contractor’s license and using our CA Responsible Managing Officer (RMO) as the qualifying party and we want to make sure he is eligible. He is currently qualifying three licenses in Nevada. What is the limit in Nevada?
A: There actually is no limit in Nevada like there is in CA and AZ, the ownership is what controls it. In order to qualify multiple licenses in NV, the qualifying individual must own at least 25% of each company, OR one company has to own at least 25% of the other.
Q: I am going to be retiring and selling my business, I’ve had my license since the 70’s. When I incorporated in 2009, I transferred my original license number to the corporation. When I sell the business, does the new owner get my license number, or can I keep it?
A: Transferability of the license depends on whether you do a stock sale or an asset sale. With a stock sale, the license goes with the sale so the buyer would retain the license number. An asset sale would require the buyer to obtain a new license number.
Q: I have been a general building contractor for just over 7 years and I want to add the “C-8” Concrete classification to my license. Is there any way that I can get a Waiver of the exam based on the fact that I’ve been doing concrete work with my General license for many years?
A: There are certain circumstances where you can request a Waiver of a Specialty Classification based on the current classification that you hold. The CSLB may consider a Waiver if you meet the following requirements: a) The Qualifier has been listed as a member of the personnel for five of the last seven years immediately preceding the application; b) The Qualifier has at least four years of experience within the last 10 (Journeyman level or above) in the classification being applied for; and c) The classification being applied for, as determined by the Registrar, is closely related and is a significant component of the classification currently on the license.
Be aware that when requesting a Waiver of an additional classification you will likely be required to provide additional documentation, such as detailed project forms showing that your additional classification has been a significant part of your work.
Q: We need to obtain our NV license as soon as possible. We are just waiting for the financial statement to be completed by our CPA so we can submit the application. Is there any way I can take the test while we are waiting for the financial statement?
A: The NV application has to be officially approved by the NSCB before they will give the green light for the Qualifier to take the exam. The application will not be approved prior to receiving an acceptable financial statement.
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While knowledge is power, knowing where to go for the answers is half the battle. Get expert assistance immediately when you call 866-443-0657, email info@cutredtape.com, or write us at Capitol Services, Inc., 3609 Bradshaw Rd, Ste H, #343, Sacramento, CA 95827. Search past columns at www.cutredtape.com