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Old 11-07-2008, 07:01 AM
 
236 posts, read 519,532 times
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Default how much does unemployment ins. pay...

I heard the max is $430.
So I'm assuming that if you make more than $430 a week, that's what you'd get?
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Old 11-07-2008, 07:07 AM
 
Location: Wouldn't you like to know?
8,320 posts, read 9,868,947 times
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Unemployment insurance? Why would you have that?
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Old 11-07-2008, 07:32 AM
 
Location: Matthews, NC
14,699 posts, read 13,318,904 times
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Never heard it called unemployment insurance before. According to http://www.osp.state.nc.us/emprsk/UI/UI%20info05-06.pdf (broken link), the max in NC is $442 a week. There is a formula to figure out how much you get based on your employed salary. If the formula yields a lower number, you will get that amount.
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Old 11-07-2008, 07:47 AM
 
Location: Wouldn't you like to know?
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Quote:
Originally Posted by bs13690 View Post
Never heard it called unemployment insurance before. According to http://www.osp.state.nc.us/emprsk/UI/UI%20info05-06.pdf (broken link), the max in NC is $442 a week. There is a formula to figure out how much you get based on your employed salary. If the formula yields a lower number, you will get that amount.
bs, your looking at a site that is shows $442 was the max from 2004-05. The $442/week is not correct, it is a higher number (for 2008-09).


The formula for NC is basically the following...

You take your total wages for the last 4 full quarters you worked, add it up and divide by 52 (weeks in a year).

You'll probably receive a little over 40% of what that number is......BUT you do get an "allowance" to work a part time job and still get your unemployment. Once you earn more in gross pay over your "allowance", that extra money will be deducted dollar for dollar against your current unemployment stash. This is not necessarily a bad thing, since you might need that extra unemployment income after your extension(s) is over (hopefully you get off unemployment b4 the extensio).

Last edited by CouponJack; 11-07-2008 at 09:02 AM..
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Old 11-07-2008, 08:30 AM
 
Location: Yellow Brick Road
35,117 posts, read 41,615,063 times
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And seems to me . . . taxes . . . can't remember the law on that . . . I believe one has to pay taxes on any employment compensation $$$.

Jack . . . you have that info? Just thought it should be mentioned so people can plan for that, as well. I just can't remember the law on this . . .
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Old 11-07-2008, 08:57 AM
 
Location: Wouldn't you like to know?
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Quote:
Originally Posted by anifani821 View Post
And seems to me . . . taxes . . . can't remember the law on that . . . I believe one has to pay taxes on any employment compensation $$$.

Jack . . . you have that info? Just thought it should be mentioned so people can plan for that, as well. I just can't remember the law on this . . .
Yes, very good point.

You'll also receive whats called a "voluntary election for Inc. Tax withholdings and/or direct deposit of UI benefits form" when you file.

You can check off the percentage of your wages you want deducted for federal and state taxes. This is important since unemployment is income.
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Old 11-07-2008, 09:02 AM
 
Location: Matthews, NC
14,699 posts, read 13,318,904 times
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Quote:
Originally Posted by CouponJack View Post
bs, your looking at a site that is shows $442 was the max from 2004-05. The $442/week is not correct, it is a higher number (for 2008-09).
I...guess...that...does...make...a...difference.
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Old 11-07-2008, 09:07 AM
 
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thanks, just wondering...you never know
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Old 11-07-2008, 09:19 AM
 
Location: Charlotte, NC
973 posts, read 2,037,283 times
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Your unemployment check will depend on where you live. There was an article on Forbes.com about what different areas pay.


Best And Worst Cities For Unemployment Pay - Forbes.com
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Old 11-07-2008, 09:38 AM
 
Location: Wouldn't you like to know?
8,320 posts, read 9,868,947 times
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Quote:
Originally Posted by gizmobizmo View Post
Your unemployment check will depend on where you live. There was an article on Forbes.com about what different areas pay.


Best And Worst Cities For Unemployment Pay - Forbes.com
That makes sense then since Charlotte was at the higher end of the spectrum in terms of percentages...
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