Test 3 Flashcards
In most Construction Contracts, retentions may be held for how many days as a guarantee that the subcontractor and suppliers are paid by the prime?
60 days
If a prime contractor fails to obtain a building permit, he is subject to:
- Suspension of license
- Double the cost of the permit fee
Who pays FICA
50% Employer
50% Employee
Also paid quarterly
It is legal for a contractor to hire professional strike breakers to replace striking employees?
No…and a $1,000 fine plus 90 days in jail.
How often are you required to pay sales tax?
It depends on expected amount of taxable sales.
A notice if completion must be completed within:
10 days after work is completed.
Which of the following procedures BEST ensures error free bids?
Rechecking the bid before submitting it to the client.
Insured employees must report every work related illness or injury to their worker’s compensation carrier within:
5 days of the incident.
A subcontractor or material supplier has BLANK days to file a lien once a notice of completion has been recorded?
30
How many days does a contractor have to notify the Registrar after being issued a workers’ compensation insurance policy?
90 days
How often are FICA taxes reported and paid?
Quarterly
If the owner lawfully cancels the contract, how long does the contractor have to pick up unused materials that were delivered to the owner’s property?
Within 20 days
How soon must DOSH investigate a serious violation to a health and safety complaint?
3 working days
An employer must furnish an employee with a completed IRS form W-2 by:
January 31st
Also, the employer must then file by February 28th
Who pays FUTA?
Employer
