What is the Unemployment Insurance %26amp; Disability Insurance rate in NJ ? Does it apply to sole proprietors, Singe LLC, and S-Corp entities? Does is max out like FICA?
Does a sole proprietor need to pay taxes Unemployment Insurance and Disability Insurance in NJ?
If the sole proprietor has NO employees - ie, you%26#039;re a one man shop - then no. However, if you don%26#039;t pay, you can%26#039;t play - you won%26#039;t get disability benefits if you get disabled if you don%26#039;t buy the coverage. And of course, as a sole prop, if your business goes under, you%26#039;re not eligible for unemployment anyway.
BUT, if you have any EMPLOYEES, you have to pay unemployment taxes for them. You ALSO have to buy workers compensation for them - it doesn%26#039;t matter if they%26#039;re relatives!! You%26#039;re still legally required to carry it!
I was unaware that NJ had mandatory disability coverage requirements . . . if they do, and you have employees, you must pay. If it%26#039;s not mandatory, you don%26#039;t HAVE to.
Does a sole proprietor need to pay taxes Unemployment Insurance and Disability Insurance in NJ?
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The owner (sole proprietor) pays no unemployment or disability on his or her income from their business. He or she also cannot collect unemployment or disability from the State of NJ.
The sole proprietor must pay unemployment and disability on other, non related. employees.
There are special rules for the children of sole proprietors based upon their ages.|||http://www.nj.gov/njbusiness/operate/wor...
This page and the associated pages will help answer your questions.|||The sole proprietor must pay unemployment and disability on other, non related. employees
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