Does workers compensation cover sole proprietors, partners and corporate officers?
Sole proprietors and partners are considered employers, not employees, and are not covered by your policy. However, sole proprietors and partners can be added to the policy by endorsement. As of 7/01/2008 payroll for all sole proprietors and partners will be assessed at $22,200 per year. Corporate officers are considered employees of the corporation and must be covered. An exception is made for corporations when there are no more than two owners of the corporation who are also the only employees of the corporation. Currently, payroll for corporate officers is based on actual payroll, subject to a minimum of $426.92 per week and a maximum of $500 per week. Under current rules, LLC members (if they have not individually rejected coverage pursuant to Section 287.037 RSMo.) are treated as corporate officers for premium computation purposes.
Related Questions
- If sole proprietors or partners acting as a subcontractor have no employees and have not elected to be insured for workers compensation coverage, why am I being charged for their exposures?
- Does workers compensation cover sole proprietors, partners and corporate officers?
- Does workers comp cover sole proprietors, partners and corporate officers?
