Some good news for Ohio businesses. To help Ohio’s economy and business community withstand COVID-19’s challenges, which include temporary business closings, stay-at-home orders and the record number of unemployment assistance, the Ohio Bureau of Workers’ Compensation’s Board of Directors approved a $1.6 billion dividend to be paid to Ohio employers.

The BWC stated that the dividend equals approximately 100% of the premiums employers paid in the policy year 2018. Of the $1.6 billion dividends, approximately $1.4 billion would go to private employers and approximately $200 million would go to local government taxing districts, such as counties, cities, townships and schools.

Checks are expected to be mailed in batches to employers later this month.

Your BMF Advisor is ready to help you and your business with financial and cash flow planning for your unique situation.

 

Visit our COVID-19 Resource Center for the latest updates and resources for you and your business. For more on COVID-19 as it relates to BWC, visit their Frequently Asked Questions page.

 

 

 

About the Authors

James E. Merklin
CPA/CFF, CFE, CGMA, MAcc
Partner, Assurance and Advisory

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