workers comp.

Discussion in 'Business Operations' started by Bingham Brothers, Feb 16, 2007.

  1. Bingham Brothers

    Bingham Brothers LawnSite Member
    Posts: 66

    I need to get workers comp. insurance this year. I will only cover 1 fulltime employee as company owners are required. How much are people paying for coverage.

    thanks
     
  2. drumbo

    drumbo LawnSite Senior Member
    Posts: 336

    make him a "shareholder" in your company (appx 10%) with a mandatory buy out at the end of the season....you can skip the comp....all this is what my attorney told me...

    But I have more employees now and I think I paid around $1400-$1500. My labor was low around $4850 or so for the season.

    I know lots of people who say to pay them minimum wage...and then give them cash bonuses to give them more pay (and more take home) thus reducing your comp insurance costs, payroll, etc. Check with your own attorney on that one.
     
  3. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    we currently pay $4.26 per $100 of payroll per employee
     
  4. VBsnow

    VBsnow LawnSite Member
    Posts: 241

    again.

    You cannot compare your rates from state to state. Also, keep in mind that lawn mtc. and gardening are not the same class. Gardening is higher.
     

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