NH Construction Law

OCTOBER 22, 2023

It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. Not unless he is prepared to pay twice! Otherwise all construction contracts would have such a clause, thwarting the lender’s statutory rights.

Security 40

Security Contract Accounting Construction 40

Levelset

JUNE 6, 2022

Retention can be withheld on residential or commercial projects and on both public and private projects. The invoice is recorded in the chart of accounts with a credit to the income account for $100,000, a debit of $90,000 to accounts receivable, and a debit of $10,000 to retention receivable.

Accounting 98

Accounting ABC Banking Liability 98

Levelset

AUGUST 5, 2022

Bill monthly for consistent income. This ensures that you will have a regular stream of income and allows you to budget for monthly income and expenses. . If your clients are slow to pay (a common problem in construction), you need to know your legal rights, including the right to file a mechanics lien.

Architecture 52

Architecture Cash Flow Income Lien 52

Buisness Facilities Contributed Content

APRIL 15, 2014

Alabama Economic Development Loan Program: The state has more than 2,300 commercial lending sources with assets of over $61.3 The Alabama Economic Development Loan Program is used to work with commercial lenders for projects in non-entitlement communities. The tax for existing entities accrues as of Jan. The rates range from $.25

Income 108

Income Finance Zoning Employment 108

Buisness Facilities Contributed Content

MARCH 21, 2014

INCOME TAX CAPITAL CREDIT: Currently codified as Article 7, Chapter 18, Title 40, Code of Alabama 1975. It is a credit of five percent of the capital costs of a qualifying project, to be applied to the Alabama income tax liability or financial institution excise tax generated by the project income, each year for 20 years.

Income 75

Income Finance Zoning Equipment 75

Contractor Bookkeeping

JUNE 20, 2014

Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation.

Insurance 48

Insurance Construction Accounting Claims 48

Contractor Bookkeeping

JUNE 15, 2012

Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation.

Contractors 48

Contractors Insurance Claims Lien 48