Construction Success Story – Contractor learns the ins of out-of-state projects

Description

Abstract: A contractor who had established a successful commercial electrical systems installation and repair business in his home state was considering bidding on jobs in neighboring states. At face value, it seemed like a great way to increase revenue and ultimately expand his business. Before venturing too far afield, however, the contractor ran the idea by his financial advisor, who explained that each state has its own laws and requirements for taxes, workers’ compensation, licenses, insurance and bonding.