In Florida, Officers and Owners who are included on a workers’ compensation policy are subject to a minimum payroll amount. Unless they hold a valid exemption from workers’ comp, corporate officers, members of limited liability companies (LLCs), sole proprietors, and partners of a partnership are charged at least this amount of payroll for the policy period.
For 2021, these minimum payroll amounts are:
- For corporate officers and LLC members of construction businesses, the minimum payroll charged per included officer/member is $26,000 ($500 per week). This is an increase of $2600 from 2020.
- For corporate officers and LLC members in non-construction businesses, the minimum payroll charged per included officer/member is $49,400 ($950 per week). This amount is the same as it was in 2020.
- For sole proprietors and partners in all industries, the minimum payroll is $50,500 per year. This is an increase of $1700 from 2020.
If you have any questions about Workers Compensation or just want a quote, please call our commercial team at 352-333-3775.