Every Little Bit Helps.... | Tax Tip of the Week | No. 202

$1 Billion Rebate to Ohio Employers

After being proposed by Gov. Kasich, the Ohio Bureau of Workers’ Compensation Board of Directors has now approved a nearly $1 billion rebate to employers in Ohio who were part of the state fund workers’ compensation coverage from July 1, 2011 to June 30, 2012.The Bureau intends to issue the rebate between now and the end of August of this year.  The rebate is based upon, roughly, a 56% premium rebate to employers.This activity was generated as a result of the Bureau determining that its reserves were higher than expected/necessary.  Employers should understand that if they were self-insured during the above-referenced rating year, they are not entitled to receive the rebate.The Bureau of Workers’ Compensation may contact employers directly for additional information needed to issue the rebate check, so a prompt response to any information requested by the Bureau would obviously be in your company’s best interest.Please Note:  This Tax Tip is a reprint of a notice sent by our legal friends at Coolidge Wall Co.  Special thanks go to David Korte.

As always, give us a call with any questions or concerns you may have.You can contact us in Dayton at 937-436-3133 and in Xenia at 937-372-3504.  Or visit our website.Rick Prewitt - the guy behind TTW...until next week.