Colorado Business Owner Opt Out Work Comp
If you are a small business in the state of Colorado you are required to provide workers compensation coverage for your employees. However, as an owner, partner or officer you can opt out of coverage if you own 10% or more of the business. Typically this is done through your Colorado Workman’s Compensation insurance company.
If you don’t have employees and/or sub-contract work to companies that provide their own workers comp coverage, the state assumes you have opted out of coverage. However, if the companies you contract with need to verify coverage you will need to submit a form to the state of Colorado that opts you out of the program. The word document form can be found on the official Colorado workers comp website.
- Rejection of Coverage by Corporate Officers or Member of an LLC
- Rejection of Coverage by Partners and Sole Proprietors Performing Construction Work on Construction Sites
- If you are a company that utilizes sub-contractors, you can verify the opt out status with the state of Colorado by clicking here.
Thanks for your consideration.
The Orcutt Team