Legal Question in Business Law in Wisconsin

is it legal for a s-corp to make a loan to it's owner?


Asked on 8/17/10, 3:08 pm

1 Answer from Attorneys
Kevin B. Murphy Franchise Foundations, APC

Any attorney will say this is perfectly legal and happens all the time, especially in a closely held corporation. The loan should be documented with a promissory note and include a standard rate of interest on the loan. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

Read more
Answered on 8/23/10, 6:37 am


Related Questions & Answers

More Business Law questions and answers in Wisconsin