What is the name of your state? Massachusetts.
Hi,
The company I am working for is closing the facility where I am located and I will be laid off at the end of January. I have always had my own consulting company (a S-Corp). All the revenue of the consulting business went into my S-corp company's account and I do not pay myself a salary. After I am laid off, will I be eligible for unemployment if I continue to keep the revenue re-invested within my own company? The revenue of my business is estimated to exceed the unemployment maximum threshold of income permitted.
Any advice you can provide is greatly appreciated.
Thanks, Wendy
Hi,
The company I am working for is closing the facility where I am located and I will be laid off at the end of January. I have always had my own consulting company (a S-Corp). All the revenue of the consulting business went into my S-corp company's account and I do not pay myself a salary. After I am laid off, will I be eligible for unemployment if I continue to keep the revenue re-invested within my own company? The revenue of my business is estimated to exceed the unemployment maximum threshold of income permitted.
Any advice you can provide is greatly appreciated.
Thanks, Wendy