Your business' compensation costs are essentially a huge percentage of its operating costs. To calculate workers' comp, you'll consider and total up your business's:
Annual recruiting costs
Payroll taxes
Employee benefits and bonuses
Annual salaries
Your business's profits depend on the amount of total revenue it brings in annually after subtracting its operating costs, including its compensation expenses. A business in the construction industry will have vastly different compensation expenses from a bakery. The number of employees you have, as well as if they're full-time or part-time, and the type of work they perform, can influence your compensation expenses as well. Our workers' comp insurance calculator on this page can help provide cost estimates, as well.