Carpentry workers comp rate in Minnesota
The filed workers comp rate for class code 5403 (Carpentry) in Minnesota is $3.71 per $100 of payroll , effective 2024-07-15. On $500,000 of payroll, that's roughly $18,550 in base premium.
Rate per $100 $3.71
Rate type pure_premium
Authority MWCIA
Effective 2024-07-15
vs peers 82%
Confidence HIGH
FAQ
What is the workers comp rate for code 5403 in Minnesota?
The filed workers comp loss cost / rate for NCCI class code 5403 (Carpentry) in Minnesota is $3.71 per $100 of payroll, effective 2024-07-15.
How much would I pay in Minnesota for code 5403 on $500,000 of payroll?
At $3.71 per $100, $500,000 of payroll yields a base premium of $18,550 before experience modifier and schedule credits. Actual cost varies by carrier and underwriting.
Where else can I see code 5403?
UT has the cheapest filed rate for code 5403 ($1.07) and NJ the highest ($16.11). Minnesota sits at the 82th percentile across 22 peer states.