Posted by Nate(DC) on July 22, 2002 at 13:42:48:
Depends on the state…sounds like in Georgia you can’t.
On the other hand, New Jersey has a program where if you become unemployed, they will allow you to collect unemployment while starting your own business and will even help you start it!
NT
Can I operate an LLC while receiving unemployment? - Posted by Jay-Atlanta
Posted by Jay-Atlanta on July 22, 2002 at 11:52:17:
Due to a layoff from my job, I filed for unemployment benefits last week. I’m looking to setup my REI business by forming an LLC where I’m the only member. Even though the business may receive income via option fees, security deposits, rent, etc, I will not take a salary but will concentrate on growing the business to a point where it will provide a salary at some point in the future. Is it legal for me the claim unemployment while doing REI?
Jay
Unemployment payments for self-employed. - Posted by Buck
Posted by Buck on July 22, 2002 at 12:34:08:
Jay,
not in GA. If you are employed, you are not unemployed. Your job for unemployment is (according to the employment office) “spend 80 hours a week looking for work.”
If you work three hours in a week, they deduct the equivilent in time or pay whichever is higher.
If you own a business, you don’t qualify. Period.
I don’t recommend defrauding the employment office, they are a state gov’t and very bad things can happen to you. ask a lawyer.
If you are going to persue real estate while collecting unemployment, do it between job apps. Around here you only have to apply to three per week. Plenty of time to “happen by” a property between interviews and while looking for a business building.
When you close a deal, then form the corp and drop the unemployment.
Good luck
Buck