Workmans compensation on yourself

What is the name of your state? Kansas

My husband and I are starting an oil/gas well service company. I need to know if legally we need to carry workmans compensation on ourselves. We will have "No" employees. I heard a couple of years back that we do and the amount is based on a minimum salary amount. I however cannot find a statute that says this is the case. I would greatly appreciate it, if someone could point me in the right direction.

Thank you

Bini

If you plan on starting a business in the State of Kansas then yes, you will have employees, yourself and your husband. So yes, you will be required to have WC.

As an aside, I married off a lady friend a few years back who operated such a well drilling equipment supply company with herself as the only employee. She found that until she had not only a license and WC insurance, no rigging company would touch her.

Actually, the answer to your question depends on the type of business structure you are planning.
If the company is incorporated, then Hex is correct in that you (and anyone else) would be an employee of the corporation.

However, if the business is a sole proprietorship, then you would NOT be an employee and as employer would not qualify for WC insurance.

Hex is also correct in that you would probably have a hard time getting contract work from any 'majors' without proof of insurance on yourself or on employees.