Financial Services
The Finance Department is responsible for all financial transactions of the Commission including revenue collection, budget administration and purchasing.
An annual assessment on workers' compensation premiums collected by insurance companies and on a calculated premium for self-insured employers based upon payroll is the Commission’s primary source of revenue. For instruction on how to submit tax payments electronically via ACH, please e-mail VWCTax@workcomp.virginia.gov.
The Assessment rates for 2024 are 2.50% for the Administrative Fund and 0.05% for the Uninsured Employer's Fund for a total assessment rate of 2.55%.
The Assessment rates for 2023 were 2.45% for the Administrative Fund and 0.05% for the Uninsured Employer's Fund for a total assessment rate of 2.5%.