The Three Classes of Contractor Licenses in Virginia

A contractor license is issued to a business, not a person, therefore THE FIRST STEP IS TO CREATE THE BUSINESS ENTITY THAT WILL APPLY FOR THE CONTRACTOR LICENSE. Decide on the NAME of your business o If you want the name of your business to serve as a marketing tool, it must tell what you do, who you do it for, where you will do it and something unique that sets your business apart from the competition. Decide on the ADDRESS you will use for your business. The actual physical location/address...

We are frequently asked, “Why does the Board need my company’s net worth?” It’s a great question. To review, a Class A contracting firm must have a minimum net worth of $45,000 and a Class B firm must have a minimum net worth of $15,000. There is no net worth requirement for Class C firms. Why is Net Worth necessary? As with other licensing requirements, the net worth requirement is for consumer protection. Let’s look at Class A contractors as an example. A Class A contractor is permitted...