Question 1

How much does workers' comp cost for Carpentry - Residential in New Jersey?

Accepted Answer

The current rate for Carpentry - Residential (Class Code 5403) in New Jersey is $14.63 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $7315 per year in workers' comp premium.

Question 2

Is workers' comp mandatory in New Jersey?

Accepted Answer

Yes, workers' compensation insurance is mandatory in New Jersey for all employers with at least one employee.

Question 3

How does New Jersey's rate compare to other states?

Accepted Answer

New Jersey's rate for Carpentry - Residential is $14.63, which is $2.62 above the national average of $12.01 (+22%).

Question 4

What does class code 5403 cover?

Accepted Answer

Covers carpenters performing construction, repair, or remodeling work on residential structures.

State	Rate per $100	Difference
New Jersey (current)	$14.63	—
Indiana	$8.78	-5.85
Texas	$9.23	-5.40
Virginia	$9.34	-5.29
Utah	$9.56	-5.07
Arkansas	$9.90	-4.73

Workers' Comp Rate for Carpentry - Residential in New Jersey (Class Code 5403)

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