About how much money does my employer pay for workers compensation?
Question by John: About how much money does my employer pay for workers compensation?
I’m an experienced carpenter in New York State, working as the only employee of a general contractor. During the turndown in the economy, I went from being a project manager to a full on carpenter, again. He has never had a claim made. The company is around 4 years old. I am considering becoming a sub-contractor for the company and I want to calculate the savings he will incure by accepting my change in status, and apply that to the liability insurance I will have to carry as a sub-contractor. In NYS a s-corp with a single employee does not have to carry WC. Just doing my research before I make the move.
Answer by Dave
Then you’ll have to ask the employer. His insurance costs are not public information. As a self-employed sub, you will not be covered by WC at all should you be injured. Your liability insurance is not a substitute for WC insurance.
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