North Carolina | Business Law
10/12/11, 11:16 am
Legal Question
Hello. We are part owners in a company. Every year profits and losses are reported to the govenment and we have to report it on our taxes. We need to get out of the venture, as it's not profitable. The owner has no money to buy us out, so we are going to put in writing that we are loaning him the money and we are out of the business. Is this something that can simply be notarized or do we need to have legal documents drawn? Also, does said paper work need to be submitted to the government, the way he does for taxes? Please advise. Thank you.
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Read More Answered By: Patrick Tracy |
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