By Shauna Krause, President, Capitol Services, Inc.
The answer is rarely just no. In most cases an expert answer can be found right away. Sometimes you just get ‘hammered’. In other cases, we really need to talk! Because finding that expert solution, the right direction, only works if I learn the whole story from you, often bit by bit…
Q: I recently applied to replace the Qualifier on our NV Contractor’s Licenses. I have been the company’s Operations Manager and I am also the President for the past 10 years. The resume that I submitted was rejected stating they needed to see that I performed work as a Project Manager in the field performing trade duties within the last 15 years. I have field experience, but it was all at the start of my construction career. When I look up our competitor’s licenses and other contractors’ licenses that we work with, they all have the Officers of the companies fulfilling the Qualifier role. I know for a fact that they are not out in the field swinging a hammer. Do they really expect us to have a laborer be responsible for our contractor’s license? There is a pretty high turnover for laborers in general, so that puts us in a really tough position.
A: Nevada requires that your resume reflect the performance and supervision of the specific trade you are applying to qualify for. Please give me a call and we can go over your work experience and see if we can hopefully make it work for you.
Q: I noticed on our license it states that the Qualifying Individual is not required to have a Bond on file because he/she certifies that they own more than 10% of the company. Our Qualifying Individual sold his shares last year actually and apparently never notified the CSLB. How do we go about reporting that? I looked online and I don’t see an application to report ownership.
A: There is a form to report the Qualifier’s ownership, although it’s quite obscure. It’s called a Qualifier Statement of Ownership. You need to submit the completed form along with a $25,000 bond of Qualifying Individual for him/her.
The form looks like it’s what you file if you are filing for an exemption from the Qualifier bond, however it also works if you are changing the Qualifier’s ownership to zero percent.
Q: I incorporated my business many years ago and my accountant is suggesting that I change it back to a Sole Proprietorship. Am I able to change my contractor license back to a sole proprietorship and keep the same license number?
A: No, unfortunately when a license is issued to a corporation, it cannot be transferred to a Sole Proprietorship.
***
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.