102.078 Election by real estate firm.
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102.078 Election by real estate firm.
(1)A firm, as defined in s. 452.01
(4w), may elect to name as its employee for purposes of this chapter a real estate broker or salesperson who is excluded under s. 452.38 by an endorsement on its policy of worker’s compensation insurance or, if the firm is self-insured under s. 102.28
(b), by filing a declaration with the department in the manner provided in s. 102.31
(a)naming the real estate broker or salesperson as an employee of the firm for purposes of this chapter. A declaration under this subsection shall state all of the following:
(a)The name of the real estate broker or salesperson to be covered under this chapter.
(b)That a written agreement has been entered into that provides that the real estate broker or salesperson shall not be treated as an employee for federal and state tax purposes.
(c)That 75 percent or more of the compensation related to sales or other output, as measured on a calendar year basis, paid to the real estate broker or salesperson under the written agreement specified in par.
(b)is directly related to the brokerage services performed by the real estate broker or salesperson on behalf of the firm.
(2)A firm, as defined in s. 452.01
(4w), may revoke a declaration under sub.
(1)by providing written notice to the department in the manner provided in s. 102.31
(a)and to the real estate broker or salesperson named in the declaration. A revocation under this subsection is effective 30 days after the department receives notice of that revocation.