What Qualifies As A Workers Comp Exemption?
If you are looking for a workers comp exemption, the first thing you should do is consult a workers compensation attorney in Orlando. At Payer Law, we help our clients know their options when it comes to workers comp and their business. There are certain guidelines that must be met if you are looking to be exempt, however, you must be sure that your business qualifies. We give you a brief breakdown of stipulations that can qualify you for exemption when it comes to workers comp. However, once you have reviewed these conditions, call us at our Orlando office in order to make sure you are following the appropriate procedures and guidelines.
Workers Comp Information
As of 2013, LLC officer’s whose business does not fall within the construction industry are able to file for exemption for workers comp. All exemptions in Florida are filed online, as this method has become the quickest and most efficient way to review all applicants. The state of Florida will absolutely not except any faxed or mailed forms.
An individual filing for an exemption of workers comp is an individual who owns a business LLC. This exemption excludes the individual officer of that LLC from recovering workers’ comp benefits, which typically saves them money on their premium. However, by doing this this individual may remove their payroll from the total payroll that is used to compute the premium
Who Qualifies for Workers Comp Exemption?
The following is a list of requirements that enable an individual to qualify for workers comp exemption. A workers compensation attorney in Orlando will be able to tell you if your LLC fully meets these requirements. According to Workers Compensation Insurance, in order to qualify for exemption as a non-construction or construction industry corporate officer, you must meet these requirements before filing for exemption:
Non-construction industry corporate officer:
o The corporation must be registered with the Florida Department of State, Division of Corporations.
o The applicant must be listed as an officer of the corporation in the records of the Florida Department of State, Division of Corporations.
o There is no limit to the number of corporate officers eligible for exemption
o There is no application fee
Construction industry corporate officer:
o The corporation must be registered with the Florida Department of State, Division of Corporations.
o The applicant must be listed as an officer of the corporation in the records of the Florida Department of State, Division of Corporations.
o The applicant must own at least 10 percent of the stock of the corporation as evidenced by a stock certificate or in the case of an LLC a notarized statement attesting to the minimum 10 percent ownership.
o The applicant must list all certified or registered licenses issued to you.
o A $50.00 application fee is required.
o No more than three officers of a corporation (including LLC) or of any group of affiliated corporations (including LLCs) may elect to be exempt.
Contact a workers compensation attorney in Orlando for more information on being exempt for workers comp.
