Legal Question in Business Law in Florida
s-corp partners
florida s-corp majority owner not sharing profits with minority partners,using profits for on personal use,partners only get k-1
Asked on 12/07/06, 9:14 pm
1 Answer from Attorneys
Robert Roemer
Robert Roemer
Re: s-corp partners
The majority share owner is suppose to use corp.funds for business purposes.The profit sharing you are refering to is your k-1.I sense that your current situation is that this person is abusing the corp. funds to provide tax or other benefits which you feel are in his/her interest not the corp.AS a shareholder you have a remedy -call me or send me an e-mail and if you fill in the facts i can discuss your rights,etc.
Answered on 12/08/06, 11:35 am
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