Saturday, January 7, 2012

Contractors may now operate as LLCs

The Contractor State License Board is now authorized to issue a contractor’s license to an LLC. (FTB Tax News, January 2012, SB 392 (Ch. 10-698))

Generally, LLCs are not allowed to be used for certain businesses subject to professional licensing requirements. However, as is now the case for contractors, amendments to the law allow specific businesses with licensing requirements to form and operate as LLCs.