Can a corporation be exempt from workers compensation requirements?
A corporation may be exempt from workers’ compensation requirements only if there are no more than two owners of the corporation, who are also the only employees of the corporation. It requires filing with the Division of Worker’s Compensation a notice of election to withdraw. A corporation that makes this election may withdraw its election by filing with the Division of Worker’s Compensation a notice to withdraw the election. The notice is effective thirty (30) days after the date of filing, or at a later date as may be specified in the notice of withdrawal. For additional information, please call the Division of Worker’s Compensation’s Insurance Unit at (573) 526-6004.
