Prepaid expenses such as insurance, interest, rents, taxes, etc. The Blount County, TN County Clerk provides an application for a Business license on the County Clerk's Online Services webpage. A Tennessee contractor's license is required BEFORE bidding or offering a price, for projects $25,000 and up (includes materials and labor), as a prime (general) contractor; and also subcontractors performing electrical, mechanical, plumbing, HVAC, roofing and masonry are also required to be licensed as a contractor, when the total portion on the Inactive License Request(See "Retirement"), Reinstate from Retirement(Use "Renewal" form), Workers' Compensation Insurance (see "Insurance"), financial statement; certificate of insurance of general liability; RCE; proof of insurance or exemption for workers' compensation. All applicants must take the Tennessee"Business and Law"exam which is open book and based upon NASCLA's Tennessee "Contractors Guide to Business, Law and Project Management" reference manual which may be purchased by the publisher, exam vender or professional book stores. Complete the online application and pay the $200 renewal fee. If you cannot locate this number, you may contact theContractors Boardor theCustomer Service Center(be sure to include your license number). Working capital is current assets minus current liabilities. A deadline date is required due to the timely review process it takes by staff to ensure the file is in correct order and complete to present at the next regularly scheduled Board meeting. This would also be the case for a contractor wanting to reinstate an expired contractor's license. (see Rule 0680-1-.13; considered deficient of plant and equipment); or, Accounts Receivables - make up the majority of working capital, Or - May supply update showing the Receivables have been collected. Board Rules and Regulations . Be sure to contact the Board office to apply for achange (name, mode of operation)and obtain a new license before contracting. A two-year contractors license in Tennessee will cost a non-refundable $250 fee, with a $200 renewal license. Pre-License Exam Course Provider applications are also approved by the Board. The renewal is required to be submitted 30 days prior to the expiration date to prevent working with an expired license, as there is NOT a grace period. Click Here for Minimal Activity Business License Application Income tax statements are not acceptable as a financial statement. Personal or parent supplemental statements are limited to 50% of working capital and net worth. Out-of-state contractors may register with PSI to take exams at any of their exam centers (offered in over 26 states). Send all mail (including express and over-night) to: Department of Commerce and Insurance; 4th Floor Davy Crockett Tower, 500 James Robertson Parkway, Nashville, TN 37243-1150. This includes new, reinstatements, second or additional license requests, and mergers/reorganizations applicants for a new contractor's license to be issued. Call 865-215-3669 or email bldginspections@knoxvilletn.gov If you have planned improvements coming up, you will likely need a permit. Submit the non-refundable $250 application fee for a two-year . Personal supplemental financial statements may be prepared by the contractor, in addition to providing their required review or audit. Build homes and commercial projects, (such as a doctors office, less than $750,000), need the BC-A and BC- b(sm) exams OR may take the combined BC-A,b(sm). Licenses with a delinquent status are typically those who owe a late fee. Letter of Reference To earn a Full Mechanical Contractor (CMC) license or a Plumbing & Gas Piping (CMC-A) license, the application fee is $250. Use this time to ask the Board member advice or the staff questions concerning the licensing law. Guaranty Agreement Required SpecialAccommodations The following states have agreed to accept many exams with Tennessee, therefore, if you are actively licensed without disciplinary action, we will accept their trade exam score from: Alabama (Building, HVAC and Electrical Boards); Arkansas; Georgia (Commercial); Louisiana; Mississippi; North Carolina (Residential and Commercial, only); Ohio (Electrical, HVAC and Refrigeration - eff. Thank you for visiting CORE! Any renewal lacking information will be sent a letter notifying the contractor to respond within 30 days. The initial license is $15 and is payable to the city and county, thereafter payments are made to the State of Tennessee. Pending Renewals:Renewals received which lack the required financial supporting documentation, our staff will notify the contractor after the audit with options. See law updates for Workers' Compensation at the "Laws, Rules and Regulations" section of the website. endstream endobj startxref Renewal Due Date:Contractor licenses are renewed biennially and issued for two (2) years. If the gross receipts are $3,000 to $9,999, the . Commercial building in excess of $750,000, BC-B exam. This step-by-step tutorial will guide you through the online renewal process.https://core.tn.gov You may also call PSI (800-733-9267), however, online is found to be quicker. There is a 7-day grace period for late fees on the first month. For more information, see " Financial Statement Change s". Contact a Certified Public Accountant (CPA) or a Licensed Public Accountant (LPA) who is properly licensed to prepare a "Reviewed" or "Audited" financial statement in the name and mode of operation to be licensed. *Note: Alarm System licensees are exempt from obtaining an additional license as a contractor, pursuant T.C.A. The QA leaving needs to be reported to the Board within10 daysand this may be done by completing the revision form,"QA - Leaving Notification". For more information relative to renewals, you may contact our office by email at:Contractor.Renewal@tn.gov -or- Fax: (615) 532-2868 -or- Call our office at (615) 532-3985 or (615) 532-3994. Check with the Board's roster of licensed contractors to ensure the name on the license is available at:https://verify.tn.gov/ Effective July 1, 2014, the name on the license cannot be similar to another licensed entity. Examples for trade exams needed for classifications: Be sure to check in the county you plan to work. Therefore, a limited licensee cannot perform projects larger than the monetary limit placed on their license. Supplying false information is grounds for having a license denied. Contact: (865) 694-6400, Memphis State Community College/@Homeprep Scores are given upon completing the exam, so you know right away whether you passed. Returning User. This is an excerpt of the "Classifications Outline" and the following trades do not require a trade exam; based upon equipment and experience, unless, obtaining more than five subcategories under one major classification (or as indicated below): Building Subcategoriessuch as: "Acoustical Treatments" (BC-1;) through "Irrigation" (BC-33;) Full "BC" exam would cover all; BC-A would cover all for residential, only. For a list of these state community colleges, please refer to our website at:BC-A/r. Effective April 28, 2017, Public Chapter 237 changed the financial statement requirements for contractor licensing. A contractors license is issued with a classification and monetary limit in the name of the entity on the financial statement. May apply in a new name, mode of operation, different monetary limit or classifications. Currently, only the Increase Monetary Limit and Transfer-Change Mode of Operation applications are available online. The "Online Renewal" process is the quickest and most convenient way to renew. Contractor Renewal To renew your Contractor License, go to MyLicense.IN.gov and select Login or Register for your MyLicense account. EXAMS (Cost $55) . Payment can be made by personal or cashier's check, but not cash or credit cards. Business & Law(required for all new applicants; does not have to be taken by the same person taking the trade exam)and a trade exam may also be required. Audio and low voltage equipment - No trade exam; specialty license or CE-D. Monetary limits are based 10 times the lesser of both working capital and net worth (plus experience). The license is obtained in the name of the entity providing the financial statement. In addition, only silent, non-programmable calculators may be used when taking the exam. NEW! Walk-ins are not allowed and you must schedule an appointment ahead of time, but exams are offered daily. Pay close attention and select "Reinstatement of Expired License" on Page 1. NOTE: If you currently are licensed with a Tennessee Contractor's License and wish to make changes to your existing license, see the "Revision" information in "Section 3". A contractor may place their active license into retirement, anytime after renewing the license (such as, due to canceling insurance while not working) or prior to the license expiring; If the contractor's license has expired (less than 12 months), they may retire by submitting the renewal and lates fees; plus the retirement fee. PSI offers special accommodations for those with disabilities and this information is in the "Candidate Information Bulletin". This limit must cover the total project and it cannot be split into phases of smaller contracts to circumvent the law. Parent company may supply the Audited financial statement for a subsidiary obtaining the license, but must provide an indemnity, such as a Guaranty Agreement or Bond. %%EOF Medical Gas Information & Approved Providers List, Medical Gas Application as a Certification Providers, P.I.P.E - Medical Gas Certification Resource, NITC (AMGI) Medical Gas Certification Resource, Business Tax License - Local Government Contacts, Request for Copies of Insurance or Home Improvement License Bond, Additional or Second Contractor's License, Reinstatement of Expired Contractor's License(Expired 12 months or more), Change in Ownership, Merger or Reorganization, Bookstores(Code Books and Reference Manuals for Exams), Education - Continuing Education is NOT required, Exam Resources and Information for Contractors, CPA (Certified Public Accountant) and Licensed Public Accountant - Information, Insurance Requirements for Licensing (See Contractor and Home Improvement Forms), Limited Restricted Residential BC-A/r License (See section "4"), Line of Credit (See "Financial Resources"), Subcontractors - Electrical, Mechanical, Roofing, Masonry)(same as "Contractor License Application"). ALine of Credit (LOC)in the Boards exact format may be considered to supplement working capital, only (does not supplement net worth). License issuance takes 4 to 6 weeks. Comprehensive Online Regulatory & Enforcement System. This is a separate license within the Board. Contractor Revisions Amendments/Changes To Existing License, Online Transfer-Change Mode of Operation Resource Packet, Clickhereto view a video demonstration on how to create an account, Exam Information - PSI Candidate Information Bulletin (CIB), Plumbing Mechanical CMC/CMC-A Exam Pre-Approval, Corporate / LLC - Business Filing and Registration, Qualifying Agent (QA) Add / Change Request, Guaranty Agreement, Bond Forms and Policy, Line of Credit Form(To supplement Working Capital, only), Reciprocation - Trade Exam Waiver Agreement, Reorganization/Merger/Change of Ownership, Verification of License - Reciprocation Information, Section 4. NON-CURRENT ASSETSare the following and not current assets, since they generally are not expected to be converted into cash within one year: *The Board may accept a Guaranty Agreement from stockholders or related parties, supplied with their financial statement, to consider counting this as a current asset. Business and Law exam is NOT required to be retaken, BC-A/r (Restricted Limited License) expired licensees must retake the course, The original Qualifying Agent (QA) is still with the company. Waived applicants will not be approved for a license until after the Board meets; therefore, do not use your license ID number until approved. Please ask your CPA/LPA to assist you with determining the amount of your working capital and net worth to ensure you qualify for the limit requested. Due to changing laws, please review our website for updates. To obtain your Indv/Org#, you may contact Customer Service or 615-532-3985 (be sure to include your license number). A contractor should apply for a mode change name change if they have changed their operations as approved on their license, by completing the license revision request form(better to do so prior to renewing a license). View all Residential Contractor License Types General Contractor Licensure. Generally, current liabilities include the following: NON-CURRENT LIABILITIESdo not include long term notes, bonds, and obligations that will not be paid out of current assets. Renewal Process:Board office conducts an audit, which includes: 1) checking the financial statement to ensure the working capital and net worth supports the current monetary limit; 2) checking for proof of insurance and making sure coverage includes Tennessee; 3) Corporate status is confirmed; and 4) check to see that the "Contractor's Affidavit" was completed, signed and notarized. PSI has testing centers all over, including throughout Tennessee, as well as in other states. WHO MUST PREPARE THE FINANCIAL STATEMENT? In order to hold a license with a limit of $150,000, you would need to showworking capitalandnet worthof at least $15,000, as well as experience for this amount. You maydownload the renewalfrom the"Forms and Downloads". Please allow an additional 5 to 7 days for mailing any revision requests. If you prefer to renew by mail, you may print the renewal form below. The application for a certificate of renewal must be submitted to the Secretary of State on or before March 1 of each year. Next, get a general liability insurance policy and a letter of reference. At the "License Search", the license status will show "Active" with an expiration date; classification; an the monetary limit assigned to the license. NOTICE! Allow us to find the right contractor for your project. Communication/cell towers; no trade exam. The following is a list of trade exams for contractors (building, electrical and mechanical) offered and includes combined exams: *Effective May 24, 2007, must be preapproved to take theCMC-A plumbingcontractors exam by providing evidence to the Board of three (3) years' experience. Filings may be submitted with them beginning November 7, 2022 at tn.gov/exemptionregistry For questions regarding Worker's Compensation Exemption filings, please call (615)532-1319 Secretary of State Tre Hargett Cash and cash equivalents available for current operations. The license is issued for two years. There are two types of exams: The Tennessee"Business and Law"exam is required byallcontractor license applicants. FAQs . The license does not have to be reinstated the same as it was prior to expiring. Section 62-6-112 and Rule 0680-1-.16 of the Tennessee law for a complete listing, or review in the application; and also a "Classification Outline"is on the website's "Other Resources"). The exam vendor, PSI Services, LLC, administers the exams. Corporate entities need to also include proof of active status with the Secretary of State. hbbd```b``"WH&) f5A${;X}6l`` zg0;DrH 2 DH8d bl + Here's how a contractor can get their license reinstated: Complete the "Contractor's License Application.". You may check the status of the license issuance at:License Search. See"Public Meetings Calendar"for dates. CURRENT LIABILITIESare obligations whose liquidation is reasonably expected to require (a) the use of current assets or (b) the creation of the other current liabilities. All licenses must be renewed every two years. At renewal time, a contractor may supply a "Reviewed" financial statement for unlimited. See the Law and Rulesfor legislative updates. For example, if the entity is wanting to go by, "John Doe DBA Doe's Quality Construction, LLC", this whole name must be on ALL documents; contracts must be in the name as licensed and could not be prepared as "Doe's Quality Construction, LLC" or "John Doe".). Guaranty Agreement In addition, the financial statement may be examined by the Comptroller of the Treasury or their designee. If licensed as a Corporation or LLC, ensure the status is active with the Tennessee Secretary of State's office at: Balance Sheet did not list assets and liabilities (current and non-current), Financial Statement is not in the name as licensed, Name Change or Mode Change may be requested to the Board by completing a license revision form(it is encouraged to do so prior to renewing), Working Capital and Net Worth do not support monetary limit on license.