Are owner/officers covered by Unemployment Insurance?
Effective January 1, 2005 wages paid to coperate officers who own 25 percent or more of the corporation will no longer be subject to Minnesota unemployment tax. This is in addition to current law, which provides that wages paid to members of a limited liability company (LLC) who own 25 % or more of the LLC are not subject to Minnesota unemployment tax. Wages for these non-covered employees should NOT be included on quarterly wage detail reports.
