Moving to Nevada as a residential contractor: every state's rule

1. 1Application fee. Pay the application fee ($300). $300 application fee, filed with the online application (NAC 624.130). It is the same for every classification and is not refunded if the license is denied..
2. 2Law / code exam. Pass a law, rules, or code exam. Nevada Business and Law examination (the Contractor Management Survey, or CMS), taken at PSI by the management qualified individual: 60 scored questions, 45 correct (75 percent) to pass, 120 minutes, open book with the Construction Business and Law Manual for Nevada. It covers licensing, estimating and bidding, lien law, financial management, tax and labor law, project management, contracts, risk management, and environmental and safety rules. Also offered in Spanish..
3. 3Trade exam. Pass the destination's trade exam. Nevada B-2 Residential and Small Commercial trade examination at PSI: 80 questions, 56 correct (70 percent) to pass, 3 hours, open book with the references listed in the PSI bulletin..
4. 4Exam fee. Pay the exam fee ($140). $140 paid to PSI when the CMS and the trade examination are registered together, or $95 for a single examination portion. The fee applies to every registration, including retakes, is not refundable or transferable, and expires with the exam eligibility..
5. 5License fee. Pay the license or certificate fee ($600). $600 license fee for the two-year license, paid after approval rather than with the application (NAC 624.130)..
6. 6Financial responsibility. Show financial responsibility. A current financial statement for the applying business at every monetary limit, with a Bank Verification Form from the applicant's bank. The kind of statement rises with the limit requested: a CPA-prepared statement, a statement on the Board's form or an accounting-software balance sheet with an affidavit for $25,000 or less; a CPA-compiled statement (current within six months) or a reviewed or audited statement (within one year) above $25,000 and under $1,000,000, with full disclosures from $500,000; and a reviewed or audited statement by an independent CPA at $1,000,000 or more. The Board sets no fixed net worth figure; it reads the statement and sets the monetary limit, the largest contract the license may take on one site for one client. An applicant for residential work who has not held a Nevada license in the past two years must file a CPA-prepared statement or a Board-form statement with a verifying affidavit (NRS 624.264)..
7. 7Surety bond. Post a surety bond. Surety bond or cash deposit, filed after approval and before the license is issued. The Board sets the amount in the Contingent Letter of Approval, from $1,000 to $500,000 depending on the license type, monetary limit, financial responsibility, experience and character. The surety must be authorized in Nevada and rated A or better, and the bond must be continuous. A cash deposit carries a $200 administrative fee at issue and at each renewal..
8. 8Insurance. Carry the required insurance. Proof of Nevada workers' compensation coverage for the business's employees (or a self-insurance certificate), requested in the Contingent Letter of Approval before the license is issued. A business with no employees that will not work or bid as a subcontractor files an affidavit instead (NRS 624.256). No general liability minimum is set for licensure..
9. 9Business license. Obtain a business license. The license is issued to the business, so the business needs a Nevada Business ID from the Secretary of State (through SilverFlume) before the application can be completed. A corporation, limited partnership or limited-liability company must be registered and in good standing with the Secretary of State, and a fictitious name certificate is needed to trade under any other name..
10. 10Background check. Complete a background check. A Background Disclosure Statement and Fingerprint Authorization (fingerprint waiver) form from every person listed on the application, filed with it. Fingerprints are submitted only when the Board authorizes it, for a background investigation of all officers and qualified individuals. A criminal conviction does not automatically disqualify an applicant..
11. 11Other. Residential Recovery Fund assessment, paid with the license fee at issue and at each renewal by every contractor doing residential work (NRS 624.470): $200 per two years for a monetary limit of $1,000,000 or less, $500 above $1,000,000, and $1,000 for an unlimited license. The figure shown is the lowest tier. ($200).

Published fees on this path total $1,040, excluding exam-vendor fees, bonds, and insurance.