The Workers′ Compensation Law does not contain any specific provisions relating to S corporations. Under the law, every employer that has five or more employees must insure its workers′ compensation obligations. Construction industry employers that erect, alter, demolish or repair improvements are required to carry workers′ compensation insurance if they have one or more employees. The definition of employee includes executive officers of a corporation.
Please contact your insurance agent or tax preparer to answer specific questions relating to the nature of your business operations, structure of the company and whether you are required to carry workers′ compensation insurance.