How to take profits from a corporation. There’s really only three ways, each of which carries with it a multitude of procedural, legal, and tax rules. Salary or wage for a shareholder; dividends; and selling shares for increased value. It’s important to consult with your lawyer and accountant before trying any of these three procedures.
For this and all your businesses legal needs, call me in Asheville, Hendersonville, Fletcher, Waynesville, and all of Western North Carolina at (312) 671-6453, email at palermo@palermolaw.com, or for more information palermolaw.com.