Virginia  |  Business Law

Legal Question

Asked on: 5/23/13, 6:11 am

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?

1 Answer

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).

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