Am I considered to be self-employed if I helped to establish a C-corporation?

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Am I considered to be self-employed if I helped to establish a C-corporation?

I partnered with someone to establish a C-corp and I need financial assistance. I have applied for temporary assistance with the local department of social service and on the application it asks if I am self-employed. I am unsure how to answer that question since I receive a paycheck but do not profit from the business.

Asked on January 9, 2011 under Business Law, North Carolina

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

The way that you have written this question it is difficult to determine how you should classify yourself.  You use the word "partnered" which has a different connotation that "employee" but state you do not share in the profits from the business but get a paycheck.  One would really need to review the partnership agreement here and see what it says as to you.  You may be considered an employee then you would not be "self-employed."  How are you planning on filing your taxes?  Do you intend on filing as a partner of the business pr with partnership income?  Seek help possibly from an accountant in your area.  Good luck.


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