All Florida contractors licensed by the Construction Industry Licensing Board (CILB) or the Electrical Contractors Licensing Board (ECLB) needed to renew their licenses by August 31, 2010. Hopefully, you've already taken care of this!
License renewals serve as a reminder of all the things contractors and business owners have to stay on top of to keep their businesses running. Most of our clients remember to renew their licenses, probably because of all the reminders they're given - from the state, from continuing education providers and from us. Still, some forget. And then there are all the other things that slip through the cracks:
- Business Annual Reports - In Florida, these are due every year by May 1. This is totally separate from your license. Every business, whether contracting or not, must file this report. If you miss the deadline, it's a $400 penalty. Ouch!! If you don't do it at all, the state dissolves your company and you are technically out of business.
- Local Business Taxes - Formerly known as Occupational Licenses in Florida, these are county taxes that must be paid every year, usually only in your "home" county. Counties differ on the due dates. In some counties, it's the same day every year. In others, it's the anniversary date of when you first filed. If you don't pay on time, more penalties. And you won't be able to pull permits.
- County registration of your state license - Some Florida counties only require you to register once and you're good until something changes with your license. Other county building departments require that you maintain registration every year. Unlike Local Business Taxes, county registration is required in virtually every county you work in. You can't pull permits without it. So be sure to stay on top of all of these!
- Workers Compensation Exemption - This expires every two years from the date your receipt was issued. If you don't renew in time, you can fall into extensive legal issues with the state and licensing board.
If you have multiple licenses, the above might be multiplied. If you have licenses in other states, the headache's increased exponentially.
We have good news for you! Licenses, Etc., is putting together a new offering of License & Business Maintenance services. Stay tuned to find out how we can remove your headache. Want to know more immediately? Contact us through www.LicensesEtc.com.