Nys Workers Compensation Exemption Form

What is nys workers compensation exemption form?

The nys workers compensation exemption form is a document that allows individuals or businesses to apply for exemption from the requirement to carry workers' compensation insurance in the state of New York. This form is necessary for those who meet certain criteria and wish to be exempt from the mandatory insurance coverage.

What are the types of nys workers compensation exemption form?

There are two main types of nys workers compensation exemption forms: the individual exemption form and the corporate officer exemption form. The individual exemption form is for sole proprietors, partners, and members of limited liability companies who do not have any employees. The corporate officer exemption form is for officers of corporations who own at least a 10% stake in the company and do not have any employees other than themselves. Each form has specific requirements and must be filled out accordingly.

Individual exemption form
Corporate officer exemption form

How to complete nys workers compensation exemption form

Completing the nys workers compensation exemption form is a straightforward process. Here are the steps to follow:

01
Download the nys workers compensation exemption form from the official website or obtain a physical copy from the New York State Workers' Compensation Board.
02
Provide all the necessary information requested on the form, including personal details, business information, and any relevant supporting documents.
03
Double-check the form for accuracy and completeness before submitting it. Any errors or missing information can result in delays or rejection of the exemption application.
04
Submit the completed form either online or by mail, following the instructions provided.
05
Wait for the Workers' Compensation Board to review the application and notify you of the decision.
06
If approved, keep a copy of the exemption form for your records and ensure compliance with any ongoing requirements or reporting obligations.

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Questions & answers

Officers of a corporation that does not employ any person who is required to be covered under the law is statutorily excluded from coverage. However, coverage may be elected for such executive officer(s) by obtaining a standard workers' compensation policy.
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Exemption Application Instructions: For those who require an exemption immediately, please access the on-line application that can be found on the Board's website, www.wcb.state.nv.us.
Workers' compensation coverage IS NOT required for partnerships, LLCs, and LLPs that do not have employees. Members and partners are not considered employees for the purposes of obtaining workers' compensation insurance, but may voluntarily cover themselves under a workers' compensation policy.
Workers' Compensation coverage is not required if the business is a one or two person owned corporation, with those individuals owning all of the stock and holding all offices of the corporation (each individual must hold an office and own at least one share of stock).
All employers in New York State, including independent contractors, are required to carry workers' compensation insurance. The policy can come from the New York State Insurance Fund, self-insurance, or a private insurance carrier. While self-insurance is an option, it is uncommon.