NY companies must carry workers’ compensation coverage for all employees, even part-time employees and family members that are employed by the company.
New York Sole Proprietors with no employees are not required to buy workers compensation insurance.
A NY Sole Prop with employees is automatically excluded from a policy. The Sole Prop may opt to have him/herself included on a policy by filing Form C-105.32 with your work comp insurance carrier.
However, if a sole proprietor has no employees but buys a work comp policy the sole proprietor is automatically included on a policy. The sole proprietor may elect to be excluded from coverage filing the proper form. This scenario may happen when the sole prop has subcontractors but does not want to be included on the workerscomp policy.
New York Sole-Props included on workers comp policy must use a $32,500 minimum payroll amount and a $104,000 maximum payroll amount for premium calculation purposes. last updated by the state on October 1, 2016)
New York Partners with NO employees are not required by law to buy a work comp policy.
New York Partners with employees are automatically excluded from a work comp policy. However, these Partners may elect to include themselves on a policy by filing form Form C-105.32
However, if a NY Partnership with no employees buys a work comp policy, in turn, the partners are automatically included on that work comp policy. These partners may choose to be excluded from the policy by submitting the proper document with their insurance carrier.
Limited Liability Corporations (LLCs) are treated the same as Partnerships.
Included Partners & LLC Members must use $32,900 minimum and a maximum of $104,000 (last updated by the state of NY on 4/1/2016)
Corporations with no employees with two or less Corp Officers are excluded from mandatory coverage, but may elect coverage. However, Corporations with no employees and more than two Officers, all must be included on a work comp policy.
Officers of companies with employees are automatically included for coverage, but may choose to exclude themselves from the policy (if eligible).
Corp Officers who are not excluded from a policy must use a $32,500 minimum for calculating wok comp premium. Depending on the industry and the structure of the business, NY Corporate Officers have several various exclusions. We suggest connecting with New York Compensation Insurance Rating Board to ascertain further details.