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?
Answered on: 5/23/13, 6:16 am by Michael E. Hendrickson
Probably, the former but this question would seem
more appropriately addressed to an accountant rather than a lawyer (in my opinion).
Did you find this answer helpful?
0 Users found this answer helpful.
0 Attorneys agree with this answer.
Attorney & Counsellor at Law 211 North Union Street Suite 100 Alexandria, 22314► Other answers from this attorney