Is an individual who owns 24% of an s-corp entitled to financial information on that company, including information on a prospective buyer?
Answered on: 11/28/12, 5:03 am by Adam Tracy
Thank you for your question. The reality is that the fact that it is an "S" corporation really does not effect a shareholder's ability to obtain information. What is relevant is that the corporation is likely a "closely held corporation". In Illinois, a shareholder would in fact have the right to obtain certain financial information as you seek. Please let me know if I can be of further help to you, you can reach me via email: firstname.lastname@example.org
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