I am about to be 52% owner of an S-Corp and completely active within the company, while the 42% shareholder has nothing to do with the comapny other than reap the benefits. How can I limit the minority shareholder from expecting a 42% distribution of the profits at the end of the year? Is there a way I can take a distribution but not the minority? With me being majority, does the minority have to approve my salary or can I set it for wahtever I would like? I hate to sound greedy but, if the other shareholder does not want to do anything for the business then the benefits they reciev should be very limited.
Join our small community for expert insights, insider tips, and the industry knowledge you need to see your small business grow.Get Started Become A Member
Now that you’re a member of the community, spice up your profile by adding photos, a custom avatar, information about your small busines, and much more.View Profile
There are no recent discussions
Ways to Make Your Search More Accurate
Most of the time, you just want to find content that has a particular phrase. Here are the easiest ways to find the content you want.