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Economy forces our business closure

by Roxanne
(Grand Junction CO )

Can you collect unemployment from your own company if you are forced to close it down?

Hi Roxanne,

What type of business entity?

If a corporation, are you a corporate officer that was paid a wage for that duty?

Please take a look at the the USDOL coverage chartbook beginning on page 11 of 15.

I think you'll be able to see why I'm asking. The FUTA doesn't exclude corporate officers from coverage and Federal UI Tax and Colorado is not one of the states in the chart creating an exemption of coverage under certain conditions.

Therefore, it seems reasonable to me when sufficient wages are paid to a owner/corporate officer and federal unemployment tax is paid on the wages .. so should state UI tax be paid.

If the business structure is an inc, I think it would be a simple matter of checking your UI tax records to know if the corporation paid SUTA on your earnings.

However, I know from speaking with other business owners in other states, they had to deal with an eligibility issue of being able and available after filing for benefits. The disqualification was lifted only when evidence that the corporation had been officially closed was provided.


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