a percentage of total cost of job
$440,000 a year
It means you will be paid as an employee, not a contractor, with al proper payroll accounting (withholding) being done. Not under the table.
How To Fill Up Form 407 And 408
Average overhead for a general contractor typically ranges from 10% to 20% of project costs, covering expenses like office rent, utilities, and administrative salaries. Profit margins generally fall between 5% and 15%, depending on the project's complexity and market conditions. Together, these figures can lead to a combined overhead and profit margin of around 15% to 35% on total project costs. However, these percentages can vary based on the specific contractor and the region in which they operate.
Depending on the subcontractor, a written proposal for the work is accepted, and once done, an invoice is sent for payment. The contractor typically has a construction loan that these bills are paid from. The bank will inspect the work to be sure it meets specs and permits and then release the money for payment.
If the general contractor refuses to pay, you must sue the contractor for payment. You may also sue his bonding company, if he has one. If your dispute exceeds small claims, see a real estate attorney right away.
How you are paid does not determine whether you are a contractor. If you are properly an independent contractor, you can be paid on a 1099.
If he can't he shouldn't be a general contractor
A concrete contractor is paid between $60 and $95 per hour.
Anyone who does work for a general contractor and is not a direct employee of that contractor is a sub-contractor. Regardless of who sets the price. The subcontractors work within the contract set between the general contractor and homeowner. Hence sub-contractor.
While different states may have different requirements, it is generally the responsibility of the contractor to furnish his or her own general liability insurance. Of course, the costs of any business will be, one way or another, paid for by monies received from clients. These are "overhead" costs and will be factored into bids throughout the course of a fiscal year.
General Contractor Lic.
So they can work as a general contractor and not have to work for someone else.
An insured contractor is a contractor who carries a Commercial General Liability Insurance Policy.
That means he is an unlicensed general contractor. He has not set up a bond or registered with the state licensing board. Complaints in your state would not be readily available.
Go to court and win.
a general contractor is who is license with a general building license (b) and is permitted to take jobs in whole a contractor or specialty contractor are the contractor that specialized in one trade only and are permitted to take only special trades on the job for example an electrical contractor can only take electrical job