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Penalties and Fines may force you to close your company!
Many business owners do not understand state requirements for maintaining workers compensation and disability insurance for their employees. In many cases, business owners do not understand how the state defines an employee vs. independent contractor. As a result, many businesses unknowingly subjected themselves to fines and penalties for noncompliance of statutory state insurance requirements.
Additionally, and as a result of the recent recession, New York State has stepped up efforts to pursue the collection of fines and penalties from business owners that failed to maintain these statutory insurance requirements. The state anticipates any fines and penalties associated with non-compliance will result in much needed income to the state. Unfortunately for business owners, these fines and penalties put businesses in financial distress and can result in businesses being at risk of - GOING OUT OF BUSINESS!
Many third party companies/law firms hired to assist in resolving these matters are not clear on state resolution procedures regarding workers' compensation insurance matters - WE ARE AND WE CAN HELP!
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