In Florida, owners of Limited Liability Companies (LLC's) who want to be exempt from worker's compensation insurance must file for and receive an exemption from the State of Florida Division of Workers' Compensation. While these exemptions are free for owners of LLC's not involved in the construction industry, they expire every 2 years. Construction Industry exemptions cost $50. And because this requirement came into effect in July 2013, a lot of these exemptions are expiring now.
If your exemption expires and is not renewed, or if there is a lapse between its expiration and the renewal of the exemption, your workers compensation company will likely "include" the officer in the workers compensation payroll figures for the period of time that he/she does not have an active exemption. This means that the workers compensation company will likely charge you extra premium (for that period of time the officer is not exempt).
How to renew your Florida Workers Compensation Exemption
Get a Florida Workers Compensation Quote or call us at 904-268-3106
Susan Augustyniak, CIC
Augustyniak Insurance Group