A: Overtime wages are to be reported at the "straight" time
rate. For example, if an employee's wage is $8 per hour and
their overtime wage is $12, you only report the overtime at the
$8 rate.
A: Yes. Whatever month the bonus is paid, it would be
included in that month's payroll/premium calculation. Payroll
should include all forms of remuneration (i.e., vacation pay,
bonuses, etc.).
A: No. It is important that you submit separate checks.
Checks for Workers' Compensation should be made payable to New
York Lumbermen's Insurance Trust Fund. Checks for Property
Casualty coverage should be made payable to W. J. Cox
Associates, Inc.
A: Every year you will receive an interest credit based on
the prevailing interest rate that will be applied to future
workers' compensation premiums due.
A: At the time your Workers' Compensation and Disability
Benefits coverage is terminated for any reason, your Member's
Deposit will be returned to you less any outstanding premiums
due either the New York Lumbermen's Insurance Trust Fund, W. J.
Cox Associates, Inc., and/or Forest Financial, Inc.
A: Yes. The maximum annual wage to be reported, per person,
is $31,200. This means that the maximum average weekly payroll
per individual is limited to $600 per week.
A: Yes. Coverage for owners/partners can be added. The premium
is based on the maximum payroll amount of $31,200 per year and
will show as a separate line item on your monthly payroll
reports - the payroll and premium will be computed for you.
A: We cannot determine by the payroll report who should be on
your Employee List. The Form to Add New Employees for Workers'
Compensation and Disability Benefits Coverage needs to be
completed and sent to our office within 3 days of hire to add an
employee to your Employee List.
A: Yes. You are legally obligated to provide workers'
compensation for anyone you hire, whether it be subcontractors
(including truckers), family members, part-time or seasonal
help.
W. J. Cox Associates, Inc.
9600 Main St,
Suite Three
Clarence, NY 14031-2093
