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.
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