5 Ways to Outsource Your Paperwork as a General Contractor in Florida

Contractors Reporting Services in Tampa, FL leads the way in helping general contractors run their construction business. From assisting with Florida contractor’s license requirements and sharing insight into how to become a contractor, they offer an end-to-end service for general contractors.

As a licensed general contractor you have more than enough to deal with on a daily basis without the additional stress and headaches of paperwork. While you understand the importance of filling the annual reports with the Secretary of State and keeping your workers’ compensation exemption renewed, it can be difficult to fit these tasks into an already packed day.

Application Service for Your Florida General Contractor License

Once you have passed your State exam in Florida, you will need to provide specific application information for that trade. You can use an Initial Application service to help you obtain your general contractor license quickly and efficiently to avoid any delay.

Financial Stability Reviews and Reporting

These reviews and reports include checking public records at the County, State, and Federal levels. Both the State as well as the relevant local County or City municipalities will approve these reports. They will be completed by Contractors Reporting Services within twenty-four hours of receiving the information.

Corporation or LLC (Limited Liability Corporation) Formation

This does not need to be an expensive undertaking. In stark contrast to other overpriced websites, Contractors Reporting Services offers an affordable solution. Friendly, professional staff offers a customized solution and the personal attention that you need. We’ll answer all your questions and deliver the right  solution for your business, setting you up as either a C-Corporation or S-Corporation.

Registration and Renewal of Licenses

It can be difficult to keep track of when and how to renew State and Country licenses. In order for a general contractor to remain in compliance with State Statuettes and Local Codes, an outsourced service is invaluable.

Additional Entities

We can assist If you hold a general contractors license for one company and wish to qualify a second, or in the instance where you hold multiple licenses and wish to qualify a separate company with any of your licenses. This has to be applied for under Additional Business Guidelines which can be frustrating and confusing to navigate.

Filing of Annual Reports

It is a requirement that construction companies file annual reports each year to renew or maintain their active status. Failure to file reports accurately or on-time for a Corporation or an LLC will result in a penalty of $400 that cannot be waived.

A Specialised In-House Construction Accounting Service

We have an in-house accountant available who offers a free review of your current accounting and tax returns. The purpose is to identify areas where you can save money in taxes. Our team also offers a free QuickBooks class on how to operate and better understand QuickBooks and use it for your business.

Running a business as with a general contractor license is stressful. There are always fires that need to be put out as well as logistical, structural issues, scheduling problems - more than enough to keep you busy. At Contractors Reporting Services in Tampa, FL, we’ve been helping businesses in the construction industry take care of the paperwork along with licensing and approval processes for more than 50 years.

Join hundreds of other satisfied customers by letting us assist with procedures and approval processes for your business. And let us deal with the various government organizations and changing requirements. This will ensure that you’re always up-to-date so that there is no risk of delays or annoying inquiries.

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The Top 6 Worker’s Compensation Insurance FAQs for General Contractors in Florida

As a general contractor in Florida, you need to understand how worker’s compensation works to ensure that your business and employees are covered. To help general contractors understand the basics, we’ve answered the top 6 questions frequently asked by our clients.

Who needs workers’ compensation coverage?

Workers’ compensation coverage is needed for all construction employers who have one or more employees (including any non-exempt business owners). And, for non-construction employers, four or more employees (which also includes any non-exempt business owners).

Trades that are considered to be in the construction industry can be viewed in Florida’s Administrative Code.

Do I need worker’s compensation insurance if I hire sub-contractors?

Sub-contractors are responsible for their own insurance that will cover workers in the event of a work-related incident. But it is the responsibility of the primary contractors to ensure that the sub-contractor has coverage for its workers. The contractor is responsible for the payment of benefits if a worker is injured without being protected by insurance.

What proof does a contractor need from a sub-contractor to verify insurance coverage?

For a sub-contractor that has a workers’ compensation insurance policy, before beginning a job the contractor must obtain any of the following:

• A copy of the ‘information page’ from the insurance policy
• A screen print from the proof of coverage database confirming that coverage is in effect
• A Certificate of Liability Insurance along with documentation from either the producer or carrier confirming that workers' compensation coverage is valid

For a sub-contractor that is a client company of an employee leasing company, the contractor needs to obtain:

• A Certificate of Liability Insurance
• A list of the employees leased to the subcontractor for the date that the subcontractor commences work for the contractor

For a sub-contractor that has an exemption for the business owner or owners, the contractor needs either:

• A copy of the exemption
• A screen print of the exemption page from the Proof of Coverage database.

What is the Cost of Workers’ Compensation Insurance?

There are 3 factors that influence the cost of insurance: the type of work being performed by employees, the employer’s claims history and the payroll for the business. There are some discounts that may be made available such as a discount for a workplace safety program (2%) and a drug-free workplace program (5%). These programs need to be renewed on an annual basis in order to qualify for the discount.

What is a Worker’s Compensation Exemption?

An exemption can be filed for an officer of a corporation or member of a limited liability company. The purpose is to be excluded from the workers' compensation laws. The office or member will not be classified as an employee and cannot claim workers’ compensation benefits once they have been issued a Certificate of Election to be Exempt.

How Do You Apply for an Exemption?

To apply for, or renew an exemption from workers' compensation law, the applicant needs to complete and submit a Notice of Election to be Exempt application. If the applicant is eligible, this can be done online. It is important to note that the application needs to be personally signed by the applicant attesting that they have reviewed, understood, and acknowledged the information included on the application.  It may be considered a felony of the third degree if anyone other than the applicant signs the application.

If you need help with applying for a workers’ compensation exemption or need some assistance with additional general contracting questions, please get in touch with us. Contractors Reporting Services in Tampa, Florida offers reliable results building on reputation and experience of over 50 years in business. We understand that general contractors have a vast range of paperwork that needs to be done from financial reports, licensing or business services, and we’re confident that we can help you tackle them.

The following info was first published on The Top 6 Worker’s Compensation Insurance FAQs for General Contractors in Florida and is courtesy of Contractors Reporting Services. Find more on:} http://activatemylicense.com