i have a question on unemployment. i have my S corporation for couple of months. currently, i have a contract with a company. my question is, is that company decide to layoff all consultants, i as a employee of my own corporation will not have a job. since i am paying unemployment insurance to state of NJ when i pay myself, am i allow to collect unemployment? if yes, will unemployment rate goes up for my S corporation? Any advice on this.

I think it is best to contact NJ Dept of Labor directly to determine whether or not you would qualifiy to receive unemployment benefits or not!

There are specific requirements that you have to meet in order to qualify to receive the unemployment.

Regarding the unemployment rate, yes, your S Corporations unemployment rates or experience ratio will increase once you would qualify to receive these benefits as a former employee claiming unemployment benefits.

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