Quote:
Originally Posted by TaxGuru An owner of a S Corporation cannot collect unemployment "if the business is not making money or the officer does not take a salary!"
Unfortunately, in your situation, I cannot see how you would qualify to receive unemployment! No State would allow an Officer/Owner of an S Corporation irrespective of whether or not the Owner has taken a salary, to be eligible for Unemployment. This is generally true for owners of both incorporated and unincorporated businesses. |
I am confused if you the officer is the only employee in an s-corp and the s-corp pays unemployment tax on every paycheck for that employee why can't the employee claim unemployment? what is the tax payment going to be used for if the employee can't get it because the s-corp is making no money?