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 E. Hendrickson Attorney & Counsellor at Law
0 users found helpful
0 attorneys agreed

Probably, the former but this question would seem

more appropriately addressed to an accountant rather than a lawyer (in my opinion).

Read more
5/23/13, 6:16 am

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