Legal Question in Business Law in Virginia
We have started a multi member llc. It is to be assumed that the company will already show a loss in the first year. With the company already being in the red , how would we go about making guarenteed draws to members? Would this just be something that would stay on the books, in an account, and not alot to physical payment?
Asked on 5/23/13, 6:11 am
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Probably, the former but this question would seem
more appropriately addressed to an accountant rather than a lawyer (in my opinion).
Answered on 5/23/13, 6:16 am
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