(1) In determining the amount of the bond, the foreign labor contractor shall provide to the Labor Commissioner the total amount of gross receipts for the twelve (12) months prior to filing the application.
(2) For the purpose of this section, “gross receipts” means all amounts of income received by the applicant, in the form of money, promissory notes, credit, or any other items of value, for the sale or transfer of goods, or for services provided by the applicant or its employees. In determining gross receipts, the applicant shall not deduct from income receipts or adjust income receipts for any expenses, including but not limited to the cost of material, labor, services, storage, transportation, rent, utilities, interest on loans, insurance, taxes, and any business losses.
(3) An applicant shall, within a reasonable time and in no event more than fifteen (15) days from the date of a request, provide any documents deemed necessary by the Labor Commissioner for verifying gross income receipts. Failure to provide the requested documentation or providing any false and misleading information concerning gross income receipts shall constitute grounds for denial of the application or renewal of registration.