(Massachusetts)
I work full time for a large corporation and also own a small business (LLC) with another person. 100% of my income comes from the corporation, however I do spend my days off working on my business. If I lost my corporate job would I be able to collect unemployment since technically I own another business? I live in MA.
Hi,
I’m sure it would be something any state would investigate both for reasons of whether you are making any money from the small LLC for the purpose of reducing your weekly benefits amount.
I think the main concern would be, while collecting unemployment, you are able and available for work and looking for full-time work .. owning the business itself is usually not the big stumbling block.
But to be on the safe side, I think a wise idea would be to contact your state.
Make sure that owning a business won’t preclude you from receiving benefits because the legal structure of your business may be relevant.
Interestingly, when I saw your question, I did a search to see if MA has an SEA (self-employment assistance) program.
I found out that Massachusetts was actually one of two states that first tested the profiling system for the SEA program .. way back when. The result was a law and the law allows any state to have an SEA because it worked so well, but for some reason .. it didn’t catch on, but in a handful of states .. not including MA. But if it ever made sense for a state to have a program like this .. it’s now.