OH State Capital

Ohio BWC Announces Dividend Payments to Employers

The Board of Directors of the Ohio Bureau of Workers' Compensation (BWC) has approved $1.6 billion in dividends to be paid to Ohio employers. The action comes on the heels of Ohio Governor Mike DeWine's request for the BWC to provide additional support to Ohio businesses that have been negatively impacted by the economic crisis related to COVID-19.

The BWC has designated $1.4 billion of the total to be paid to private employers, while the remaining amount will be sent to local governments. It is expected that the payments will be applied first to outstanding balances; checks for remaining amounts are to be issued in late April.

The April 10 announcement marks the seventh time since 2013 that the Ohio BWC has issued dividend payments to Ohio employers. It is also the second time that the BWC has taken action to help businesses affected by COVID-19, the first being to postpone due dates for March, April and May insurance premium installments to June 1, 2020. For more information, read our article Ohio BWC Delays Installment Payments, Provides Guidance.

Click here to read the BWC press release on the dividend payments.

For FAQs from the Ohio BWC on COVID-19 related matters, visit the BWC website.

About the Author(s)
Amy Reynallt is a Manager with the HBK Manufacturing Solutions Group in the Youngstown, Ohio office of HBK CPAs & Consultants. She joined the firm in 2019 following 13 years in the manufacturing industry. Amy is experienced in navigating the strategic and financial matters associated with manufacturing and works closely with manufacturers to help them plan, execute, and meet their short- and long-term financial goals.
Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.

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