An Arizona contractor with 8 employees has a payroll of $320,000. If the workers compensation rate increases from $3.75 to $4.10 per $100 of payroll, what is the annual premium increase?
Correct Answer
B) $1,120
Rate increase = $4.10 - $3.75 = $0.35 per $100. Premium increase = ($320,000 ÷ $100) × $0.35 = 3,200 × $0.35 = $1,120
Why This Is the Correct Answer
Rate increase = $4.10 - $3.75 = $0.35 per $100. Premium increase = ($320,000 ÷ $100) × $0.35 = 3,200 × $0.35 = $1,120
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A contractor files a preliminary 20-day notice on January 15th for work that began on January 10th. The work was completed on February 20th. What is the last day to file a mechanics' lien under Arizona law?