Does a C-Corp Have to Pay Salary to Sole Owner Working Full-Time?
A person is the only owner, director, and officer of a startup c-corp in California.
He is working full-time on the business, and the profits are growing.
The owner doesn't want to take any money out of the company at the startup stage. Is it legal for the c-corp to retain all profits and not pay any salary or dividend to the owner for a few years?
So another way to ask this question is: is a sole owner of a startup subject to minimum wage requirements?