A Tennessee residential contractor has 8 employees with a total weekly payroll of $6,400. If the workers' compensation rate is $2.85 per $100 of payroll, what is the weekly workers' compensation premium?
Correct Answer
D) $182.40
Weekly premium = ($6,400 ÷ $100) × $2.85 = 64 × $2.85 = $182.40
Why This Is the Correct Answer
Weekly premium = ($6,400 ÷ $100) × $2.85 = 64 × $2.85 = $182.40
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A general contractor's employee is injured on a job site. The contractor has no workers' compensation insurance. What is the potential penalty under Tennessee law?
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