Wyoming nonresident employers’ surety bond amount will increase following the passage of House Bill 221. The Insider covered this bill before it was passed in Part 3 of last month’s legislation watch series. Nonresident employers are those that have not lived in Wyoming for at least one year before beginning business operations. The bill will take effect on July 1, 2017.
HB 221 increases the surety bond required of nonresident employers that expect to pay more than $10,000 monthly or $120,000 annually in wages. Current law requires a $10,000 bond for the first $120,000 in expected wages, plus an additional $1,000 for every $120,000 or fraction thereof beyond that. HB 221 increases the initial bond amount from $10,000 to $20,000, and the additional bond amount from $1,000 to $2,000. Under current law, an employer paying $300,000 would need a $12,000 bond. Beginning in July, the same employer will need a $24,000 surety bond.
The nonresident employer surety bond is in place to ensure that all employees’ wages are paid in full and on time. It also ensures nonresident employers pay OSHA-assessed penalties and any payments or obligations of the Wyoming Workers’ Compensation Act or other fees required under Title 27 of the Wyoming Statutes or by the Department of Workforce Services.
Wyoming nonresident employers must complete a questionnaire and submit it to the Department of Workforce Services at this address:
Employer Services
P.O. Box 2760
Casper, WY 82602
The questionnaire can also be submitted via fax to Unemployment Insurance at (307) 235-3278 or to Workers’ Compensation at (307) 777-5298.
HB 221 also increased the maximum fine for nonresident employers that do not comply with the provisions of the law—a misdemeanor—from $750 to $1,000. Noncompliant employers could also face up to one year in prison for violations of the law.
If you have other questions about the change for Wyoming nonresident employers, contact the Department of Workforce Services. Get in touch with a surety expert if you’re ready to purchase a Wyoming nonresident employer bond.