Worker's Compensation & S Corp Officers - Colorado
While an s-corp officer is considered an employee & subject to unemployment and other employment taxes, they can elect to exempt themselves from Worker's Compensation coverage by either completing an exemption with their carrier directly (Pinnacol, Traveler's, etc.). Brokers can assist in getting this exemption completed.
If the s-corporation has no other employees besides officers, the DOL instructs officers to complete the CO WC-43 exemption form, have part B notarized for each officer & mail to the Division of Worker's Compensation.
More information on Worker's Compensation available in this Colorado Employer's Guide to Worker's Compensation.