Legal Question in Business Law in New Jersey

payout of retained earnings of a s-corporation

I own 17.5% of a new jersey s-corporation ,who has refused to payout the earnings reported to me on my 1998 k-1 .How can I get my money now ?


Asked on 2/08/00, 8:47 am

1 Answer from Attorneys
Robert Gleaner Robert A. Gleaner, P.C.

Re: payout of retained earnings of a s-corporation

If I understand you question correctly, it appears that the majority stockholder is reporting earnings as paid to you, to the IRS, but has not, if fact, paid those earnings. This is a fraud and could have serious consequences, not only to the majority stockholder but even to you, depending on your relationship to the corporation as an officer. You should immediately contact an attorney to discuss the issues in detail. If you want me to assist you, feel free to call me at 856-546-8010; mention LawGuru and your first consultation will be free. Good luck! Rob Gleaner

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Answered on 2/10/00, 10:09 pm


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