Unemployment Compensation And Deductibles In The State Alaska

You will be entitled to gain partial or full compensation based on your earnings of the week. If you have worked less than full­time during a calendar week that is Sunday through Saturday you can collect unemployment benefits for that week.  But note that your net earnings should not be equal to or more than 1 1/2 times of your weekly benefit amount. In case you earn less than 1/2 of your weekly benefit amount, there will be no deduction. Have more idea about unemployment by checking out Unemployment Compensation guide.

Did you know that earning also affects your benefit?

Of course yes, if your earning is more than $50 then there will be 75% of deduction for each dollar you earn over $50. It is very essential to report your earnings of the week, though you are not paid of that particular week also.

Reporting your earnings

So how do you report your earnings ? Earnings need to be reported bi-weekly. You can claim the benefit through online or on VICTOR.

Calculating the earnings

Best way to calculate your compensation earning is to calculate the number of hours you worked within the week you are claiming the benefit that is Sunday through Saturday and multiply the number of hours worked by your hourly rate of pay by which you will be able to find your gross earning. Although you have worked as more than one job then you would be able to get two gross earnings. You just need to report both the earnings as total on bi-weekly claim. To know more about this check out our Alaska Unemployment Benefits guide.

Does being self-employed also affect your benefits?

Self-employment income is deducted on a dollar to dollar basis. The first and foremost requirement of the Unemployment Insurance is to be available to accept full time employment. Hence to become eligible to claim unemployment insurance in Alaska it is necessary to give the details of your company, business and the time you remain involved in the business. You are also expected to provide information on your gross earnings of the week deducting the business expenses on net gaining.

Other Deductions

Remember while filing the benefit claims, you need to report all details of income, Alaska Permanent Fund Dividend and Income Tax Return. Under some circumstances separation pay, pension, vacation or sick leave pay, bonus and back pay are also considered as deductibles.

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