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I am an electrician and have been working as an employee for electrical contractors for years. Recently I passed the test and have completed everything necessary to become a licensed electrical contractor in my state (New Jersey). I am waiting for the forms from the state board right now. I am going to be required to register a business to put the license under.
Here is my concern. Currently I am unemployed and on unemployment compensation. My plan is to go back to work for someone else as an employee again. Right now is not a good time for me to start a business, I need to get back on my feet and gain more capital first. I have perspective jobs and I feel that I will be going back to work within a month or so. Just to be clear, I will NOT be doing any work thru my own company, I just need the company registered in order to receive the NJ State Electrical Contractor's License. I know that having a company that I don't use will cost me some money, but having an electrical license will give me an advantage when finding work and also help me make more money.
I have 2 concerns. 1) If I register a business right now (most likely an LLC.) will it mess with my current unemployment claim? 2) What about in the future, if I am working for a company and also have a business of my own that I do not use, will it stop me from collecting unemployment compensation if I get laid off from the job?
I have 2 concerns. 1) If I register a business right now (most likely an LLC.) will it mess with my current unemployment claim? 2) What about in the future, if I am working for a company and also have a business of my own that I do not use, will it stop me from collecting unemployment compensation if I get laid off from the job?
The LLC won't stop you from collecting unemployment if you are laid off again, but it will raise questions and a red flag. NY will at some point find this registration. If they do, they may contact you about benefits you've received even after you've found another job. If you don't find another job and continue to collect, sooner or later they will contact you about the LLC. If you find another job and are laid off, NJ will ask about the LLC.
Call them now and tell them only for licensing purposes are you thinking of registering this LLC, that it would be a shell corporation in name only because of your new status as a licensed contractor, and that you NOT running a business. There are no guarantees NJ still won't investigate again at some point.
It's a shame. Getting this license was one of the harder things that I've done in my life and I did it for the sole reason of getting a good job. Yet it may give me trouble with unemployment
Watch out for potential employers finding out about your business license, worrying that you want to work there to steal their customers.
I think you are looking at this incorrectly. I got the license for the purpose of using it as an aid to get a better, higher paying job. So any employer that I apply to will definitely know that I have it- because I tell them.
In some cases I would actually use my license so that the company that I work for is able to do in-house electrical work without hiring an electrical sub-contractor.
You've done a good thing getting that license. Plumbers and electricians are doing well in this economy around here. It seems to be tougher in NJ, although we did have a poster who would get very lucrative gigs here and there for quite a while, until he finally got a permanent job.
I am in a similar situations. I just started collecting UI and am planning to set up a home improvement business with my father. But found that in order to get the contractor license, I have to get business registered. Just went to UI interview, the agent told me to go to the SEAP class first, however, the agent also said it will be better idea to self new business after exhausting the whole UI. How you guys think?
I am in a similar situations. I just started collecting UI and am planning to set up a home improvement business with my father. But found that in order to get the contractor license, I have to get business registered. Just went to UI interview, the agent told me to go to the SEAP class first, however, the agent also said it will be better idea to self new business after exhausting the whole UI. How you guys think?
As discussed upthread, business registrations ALWAYS cause investigations. The agent said what he/she did for a reason. Be prepared to prove you are available for work and searching for work if you register this business now.
You have to actually work for someone to tell unemployment you made wages.
If you are self employed, you only have to disclose the commission when you earn it. Not when you get paid however, when you earn it.
So until you earn a red cent you can start up 50 businesses all you want.
But like Ariadne says, it WILL cause a red flag if someone finds out. I didnt see anywhere on the ui site where simply getting a licence is something you need to disclose to anyone. Do not disclose it. You dont need the state poking around trying to find a reason to kick you off.
Just keep looking for work like the state requires.
I am in a similar situation. I was laid off 12-31-13 and started collecting unemployment. I am now working as an independent sales representative under my new business - a S corp. I have received my first commission check this past week in February - for sales I did in January. Do I claim the entire commission check for the last 2 weeks of work on my claim phone call? The commissions went into my business checking account - and I have not paid myself a salary yet.
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