Q: IN NJ does a corp with the 2 owners (husband & wife) being the only employees need workers comp insurance by law?
Specifically the question is about a S-Corp Incorporated in NJ.
Business is operated in NJ.
Husband and Wife are the only Owners, Shareholders, Officers, Directors, and Employees.
A: In general all corps need workers compensation insurance but you should speak with a lawyer as a way around it may exist. Of course expect to pay for the consultation.
A: All partnerships and limited liability companies (LLC's) operating in New Jersey must maintain workers' compensation insurance or be approved for self-insurance so long as any one or more individuals, excluding partners or members of the LLC, perform services for the partnership or LLC, for prior, current or anticipated financial consideration. So if both of you are members, no.
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