Ohio State House

Ohio BWC Announces Second 2020 Dividend Payments to Employers

The Board of Directors of the Ohio Bureau of Workers' Compensation (BWC) has approved $1.5 billion in dividends to be paid to eligible Ohio employers. The action comes in response to Ohio Governor Mike DeWine's proposal to provide support to Ohio businesses that continue to experience economic setbacks from the COVID-19 pandemic.

Eligible private employers are expected to receive an amount equal to their 2019 Workers' Compensation premiums. The dividend will first be applied to unpaid balances, with the Ohio BWC sending checks to eligible employers for the remaining balances beginning in late October.

The September 25 announcement follows a series of support measures the Ohio BWC has implemented for the state's public and private employers this year. The agency allowed deferrals for payments owed between April 1 and August 1, and issued a $1.6 billion dividend in April to Ohio employers.

For more information regarding the upcoming dividend payment, visit https://info.bwc.ohio.gov/wps/portal/gov/bwc/news-and-events/news/bwc-board-approves-1.5-billion. In addition, frequently asked questions regarding employer eligibility and the dividend payment are available at https://www.bwc.ohio.gov/downloads/blankpdf/DividendFAQ.pdf.

To discuss this dividend or other COVID-19 relief options, please contact your HBK Advisor or call 330-758-8613.

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 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. Amy can be reached at 330-758-8613 or by email at areynallt@hbkcpa.com.
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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