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REPORTING PAYROLL

To calculate premium, the following payroll is reported:

  1. Gross payroll of employees less overtime extra pay;
  2. Sole Proprietor’s working spouse;
  3. Corporate Officer with less than 10% ownership;
  4. Commission payments;
  5. All bonuses, whether anticipated or not;
  6. Pay for holidays, vacations or illness;
  7. Subcontractors (contract labor) who have not provided you with a Certificate of Insurance;
  8. Salary deductions to the employees gross pay for retirement or cafeteria plans; and
  9. Owners (i.e. Sole Proprietor, Partners, Corporate Officers) who elect to be covered for workers’ compensation.  The payroll you report is limited as follows:

ARKANSAS (eff 01/01/08)

Minimum Annual Payroll

Maximum Annual Payroll

   Sole Proprietor and Partners

$30,800

$30,800

   Corporate Officers

$15,600

$124,800

LOUISIANA (eff 05/01/08)

Minimum Annual Payroll

Maximum Annual Payroll

   Sole Proprietor and Partners

$50,600

$50,600

   Corporate Officers

$5,200

$93,600

MISSISSIPPI (eff 03/01/08)

Minimum Annual Payroll

Maximum Annual Payroll

   Sole Proprietor and Partners

$32,000

$32,000

   Corporate Officers

$5,200

$104,000

OKLAHOMA (eff 01/01/08)

Minimum Annual Payroll

Maximum Annual Payroll

   Sole Proprietor and Partners

$30,000

$30,000

   Corporate Officers

$15,600

$119,600

TEXAS (eff 10/01/07)

Minimum Annual Payroll

Maximum Annual Payroll

   Sole Proprietor and Partners

$46,300

$46,300

   Corporate Officers

$7,800

$62,400

The following is NOT reported:

  1. Tips received by employees;
  2. Subcontractors (contract labor) who have provided you with a Certificate of Insurance;
  3. Dismissal or severance pay except for time worked or accrued vacation;
  4. Payments for active military duty;
  5. Extra pay for overtime:  books and records must be maintained to show overtime extra pay separately by employee.  For example, an employee’s regular hourly wage is $10.00 per hour and his overtime wage is $15.00, your records should show total hours worked x $10 as regular pay (payroll to report) and overtime hours x $5 as overtime extra pay (payroll not reported); and
  6. Owners (i.e. Sole Proprietor, Partners, Corporate Officers with 10% or more ownership) who elect not to be covered for workers’ compensation.
© 2006 Stonetrust Commercial Insurance Co.