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Workers Compensation benefits are non-taxable.
Vermont law permits corporate officers to exclude themselves from protection under the Vermont Workers Compensation Act. Only corporate officers may be excluded. Officer refers to the President, Vice President, Secretary of the Corporation, Clerk or Treasurer.
Elected officials such as municipal councillors, school trustees, and unpaid trade union executives are not normally considered workers unless an application for coverage is approved by WCB.
Vermont employers need workers compensation insurance if they have at least one employee. There are a few exceptions to this law, exempting: Companies with up to four corporate officers or limited liability company (LLC) members. A corporation if every corporate officer is excluded from coverage.
Workers compensation insurance is mandatory for all Vermont employers. Most employers are aware of their coverage obligations and they know that it provides an injured worker with certain benefits.