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sc-supplementSC State Supplementmedium

Calculate the workers compensation premium for a South Carolina roofing contractor with $250,000 in annual payroll. The rate classification is 5551 with a rate of $28.50 per $100 of payroll.

Correct Answer

A) $71,250

Workers comp premium = ($250,000 ÷ $100) × $28.50 = 2,500 × $28.50 = $71,250

Answer Options
A
$71,250
B
$78,500
C
$75,000
D
$68,250

Why This Is the Correct Answer

Workers comp premium = ($250,000 ÷ $100) × $28.50 = 2,500 × $28.50 = $71,250

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