K-1 as wage basis for unemployment compensation?

I am a Partner is an LLC, not paying into the State Compensation Fund. The LLC, tied to commercial construction is now defunct. LLC distributioms are my sole source of income. Am I eligible for Unemployment benefits im the state of AZ.

Please respond but would be interested in further perosnal consultation.

1 answer  |  asked Aug 28, 2010 12:45 PM [EST]  |  applies to Arizona

Answers (1)

Francis Fanning
First of all, the State Compensation Fund has nothing to do with unemployment benefits. It is a worker compensation insurance carrier.
If your LLC paid unemployment insurance premiums into the Department of Economic Security, and if you took a salary from the LLC for work performed when it was operating, you may be eligible for unemployment benefits, assuming the loss of your active employment with the LLC was not voluntary on your part. If your LLC income was always K-1 income, then you were never a wage earner and haven't lost your employment, so you would not be eligible. For more information on unemployment benefits, go to www.azdes.gov

posted by Francis Fanning  |  Aug 30, 2010 3:07 PM [EST]

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