Legal Question in Business Law in Ohio
My wife and I are are organizing as an LLC for a small "from home" business venture. My wife will very likely be taking a temporary lay-off from her full time job this winter. Is there a way for ME to take profit distributions from the LLC during this time without affecting her eligibility for unemployment compensation (i.e. take my 75% share of the profits, but leave her 25% in the LLC until she returns to work)? If that cannot be done, is there any way (aside from neither of us taking distributions while she is laid off) for us to access our small business earnings while still collecting unemployment?
Asked on 9/17/09, 10:11 am
1 Answer from Attorneys
Edward DiCato
Edward DiCato Attorney at Law
You need to consult an accountant. Please feel free to contact me if you have further questions. Ed DiCato
Answered on 9/18/09, 3:04 pm
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