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Level 2
posted Mar 19, 2023 1:14:01 PM

LLC payments to Washington State LNI

We are a cash basis partnership LLC in Washington State. We pay mandatory LNI (worker's comp) insurance for our employees and optional for the 2 LLC members.

  1. For 2022 Q4, do we claim the payments to LNI in the year the hours were worked or in the year paid (January 2023)?
  2. Are the payments for the employees  categorized with payroll taxes or as insurance? 
  3. Where to categorize for the LLC members, as insurance or distribution, or other? 
  4. While I'm here, does anyone know why my QB Online P & L shows employee wages as the sum total of Gross and Net wages? Makes it tough to trust the P & L for any other totals.

Thank you.

 

0 1 264
1 Replies
Expert Alumni
Mar 24, 2023 6:45:43 PM

1. As cash partnership, you would report in the year paid (2023)

2. Worker's compensation is an insurance tax.

3. For the voluntary partners payments, you can enter as insurance.

4. You may want to find the Quickbooks forum to get specific questions answered (this is just tax).