Legal Question in Business Law in Georgia
when you are in a partnership in a business that is incorporated can one of the partners draw a salary when he is not working when the business shows no profit
He is out on medical leave and drawing work man's compensation and getting a check every thursday from the companies payroll
3 Answers from Attorneys
That is not a legal issue. That is an internal issue that the owners and officers need to work out (in the paperwork or otherwise).
That depends. Is the business a true partnership, an LLC or some kind of corporation? That and the internal documents will determine what the principals can or cannot do. Have a local business attorney review everything and provide an opinion.
You had better see a lawyer ASAP. There is NO SUCH THING as a "partnership in a business that is incorporated." Those are two completely separate business forms. If you do not even know the type ownership you have it sounds like you did all this without a lawyer and you likely have a legal (and potential) tax mess that could destroy your business and perhaps you personally. So you have a far bigger impending explosion than the problem you asked.
(If your business was created properly, the answer to your question would already exist in the paperwork that created and operates your business.)
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