All New Jersey companies are required to buy workers comp insurance for their employees.

Sole-Proprietors, Partners & LLC Members are automatically excluded on a work comp policy, but they can choose to be included. A Notice of Election must be filed with the state of New Jersey and the insurance carrier.

All NJ Corporate Officers are automatically included on a policy and are not allowed to exclude themselves from a workers compensation policy.

New Jersey law is broader than Internal Revenue Service (IRS) rules regarding the definition of an employer-employee relationship. Business owners can be held liable for coverage for non-typical employment situations.

Sole Props, Partners & LLC Members included on a workers comp policy must use a $31,980 minimum payroll amount for premium calculation purposes.

Corporate Officers must utilize a minimum payroll of $31,980 and a maximum of $127,400 for the purpose of work comp premium calculation.

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