By Shauna Krause, President, Capitol Services, Inc.
I have heard that failure is just a stop on the way to success! You can bet in Nevada, money matters. Contractors also need to see a day in the future when they can put down their tools. As your expert assistant I can help with all these issues, as I do daily in my Sacramento offices…
Q: We have a pending contractor’s license application with the CSLB and my boss just took the Trade exam yesterday and didn’t pass. How many times is he able to re-take it?
A: An applicant can take the exam as many times as they need to within an 18-month period from the time they are approved. They are required to wait at least three weeks in between each attempt.
Q: I understand in order to obtain a Nevada State Contractor’s License, the applying entity is required to provide a financial statement. We are looking at work exceeding $10 million which according to the license application, requires a reviewed or audited statement dated within the last year. We filed an extension for 2024. Is it acceptable to provide our 2023 statement along with the verification of our approved extension request?
A: No, the NSCB doesn’t make any exceptions for the financial statement requirements. You will have to wait to apply until your 2024 financial statement is completed.
Q: I want to retire and disassociate from all responsibilities regarding my license. However, I need to make sure my partner can continue operating. Is he going to be required to take exams to take over as the responsible party? Do you see any issue with me disassociating?
A: You have a Partnership license. The problem with a Partnership license is when one of the partners disassociates, or the Partnership changes it’s structure, the license is cancelled immediately. Therefore, your Partner will be required to obtain a new license number, but he will likely qualify for a Waiver of the exams based on him being listed as a Partner on your license for over five years. Give him my contact information and I would be happy to assist him with the process!
Q: Hi Shauna, our Responsible Managing Officer (RMO) is leaving/retiring at the end of July. We have another candidate in mind. Should we apply now, or wait until our RMO officially retires?
A: Sooner is always better! You have 90 days from the time your RMO disassociates from the license to replace him/her. However, the CSLB has their processing times, which right now is at least 3-4 weeks, so it’s best to get the application in process as soon as possible. If you need further assistance, as I said at the start, we do this daily!
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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