Nevada State Contractors Board
Application for Permanent Raise in Limit Revised 9/14
Page 2 of 3
SECTION 3 – FINANCIAL RESPONSIBILITY REQUIREMENTS
NOTE: A financial statement IS REQUIRED regardless of the size/amount of the monetary limit.
1.
FINANCIAL STATEMENT REQUIREMENTS: Your financial statement will need to be prepared based on
the Monetary Limit you are requesting. It is important that you read through the specific requirements below,
and seek the assistance of a Certified Public Accountant (CPA) when necessary. All financial statements
must meet the following criteria:
o
Financial statements must be for the applying entity. Sole proprietors and each general
partner of a general partnership must submit personal statements.
o
All statements must be in U.S. dollars.
o
Business statements must include a classified balance sheet.
o
It is highly recommended that personal statements include a supplemental schedule disclosing
working capital.
• MONETARY LIMITS OF $250,000 OR MORE:
o
A financial statement that is prepared and reviewed or audited by an independent
certified public accountant, current within 1 year from the date the application is received.
• MONETARY LIMITS OF $50,000 OR MORE, BUT LESS THAN $250,000:
o
A compiled financial statement with full disclosures, prepared by an independent certified
public accountant, current within 6 months from the date the application is received; or
• MONETARY LIMITS OF MORE THAN $10,000, BUT LESS THAN $50,000:
o
A compiled financial statement prepared by an independent CPA, current within 6
months from the date the application is received; or
• MONETARY LIMITS OF $10,000 OR LESS:
Self-prepared or compiled statements must be current to within 6 months from the date the application is
received.
o
A current financial statement prepared by an independent CPA; or
o
A current financial statement submitted using the Board’s form online. If you are not familiar with
the financial terms, documents, or general small business requirements, please visit the Nevada
Business Development Center online at:
http://nsbdc.org/ or call (800) 240-7094. This site
contains important information for small business owners and allows you to request individual
counseling services, which may be helpful in completing the requested information within this
licensing application.
SECTION 4 - GENERAL QUESTIONS
Answer all questions and attach any supplemental information required. Your answer to each question
applies to the licensee, as well as all individuals, officers, associates, members, or managers.
1. Are there any pending bankruptcy proceedings under your individual name, a corporate name, or any other
business entity name in which you have an interest?
No Yes – If yes, attach a copy of the creditor list and plan of reorganization.
2. Are there now any unpaid past due bills for either materials, services rendered, or labor?
No Yes – If yes, attach a detailed explanation.
3. Have you, or any of you, or any business entities of which you were a member, partner, officer, director, or
associate received any notice of liens, suits, judgments, or claims (including tax claims) which remain
unsatisfied?
No Yes – If yes, attach a detailed explanation.
4. Are there any liens or stop notices for labor or materials filed on any of your work anywhere?
No Yes – If yes, attach a detailed explanation.
