workers comp

[dieselfish]

lowes is requiring I have workers comp. Do I really have to have that since I dont have anyone employed for me? and how much do I have to have?

[Rich]

Workers Compensation insurance is based on payroll and the type of job you are performing. There is no amount you need. A typical percentage is 17-20% (more for jobs like roofing - a lot more) of your payroll. As an owner of a company - most states do not require you to have workers comp insurance... all your future employees will be required to have it. Look at the Ohio state website and see if there is an exemption affadavit you can declare you are not covering yourself for work comp.
Now - as far as Lowes - if they require it by contract - and you want to work for them - you'll need to get it.. it's an additional cost that you'll need to charge back to Lowe's is all.

[dieselfish]

So If one just started their business and has no employees, how much would workers comp insurance cost?

[montytx]

Why would you want it? WC is for employees " off the job" to pay them. It really is a crappy tax the govt throws on companies. That is why you should sub everything you can.

[dieselfish]

I dont want it, but to work for lowes they give you a form and ask you to have car insurance, business insurance and workers comp isurance. Next to each the have a line the asks how much.

[montytx]

Just say no, I have no employees.

[MCC]

Look At The Ohio Laws Because The Vary From State To State. We Work In Various States And New York Requires It If You Sales Are Over $4000.00 Although If You Are A Non Working Executive
[ Which Is Not Your Case] You Can Be Excluded. It Is The Same In Nj. The Other States We Work In Don't Require It For Self Employed But You Are Required To Get An Certificate From They State Which States You Are Self Employed. Good Luck