2016 payroll minimum and maximum for officers, partners, sole proprietors

Ohio workers compensation premiums are calculated based on payroll.  For payroll earned and reported in 2016, the minimum for corporate officers, and partners & sole proprietors who have elected coverage, is $443.00 per week.

The 2016 maximum for officers, partners, and sole proprietors is $1,328.00 weekly.

You must report the actual payroll if it is between the minimum and maximum.

You will report your 7/1/15-6/30/16 payroll by August 15, 2016.  Use the 2015 minimum ($431 per week) and maximum ($1,293 per week) for the last half of 2015 and the 2016 minimum & maximum for the first half of 2016.

In other words, report your officer, partner & sole proprietor payroll for the second half of 2015 between $11,206 and $33,618, and the first half of 2016 payroll between $11,518 and $34,528.

Here’s the link to the Ohio BWC web page that addresses how to calculate the correct payroll and who else is subject to the minimum/maximum reporting requirements.    http://www.ohiobwc.com/employer/services/paidcomp/paidcomp.asp#minmax

This page includes Frequently Asked Questions.  Your TPA should be able to answer your questions also.  Don’t have a TPA?  Contact ActuComp Ohio.

Posted in partner, premiums, sole proprietor.