CSLB Exam Law and Business Questions & Answers

CSLB Exam Law and Business Questions & Answers How much time does a contractor have to renew his/her license after the expiration date without retaking the license exam? - ANS-The contractor is not required to retake the exam if the license is renewed within 5 years, from the expiration date If the contractor unlawfully removes asbestos he/she may be fined.... - ANS-minimum of $1,000 and or have his/her license revoked or suspended when you collect sales tax from your customers goods, to which agency do you report and pay sales tax collected? - ANS-sales tax is a state tax and is payable to the state board of equalization. Who do you pay state income tax to - ANS-state income taxes are payable to the franchise tax board Who collects federal tax - ANS-IRS only collects federal taxes How long is the contractor liable for patent or visible defects - ANS-patent is a visible defect for which the contractor is liable for up to 4 years how long is the contractor liable for latent or structural defects -ANS- CONTINUES...