What to do if my 2 partners and I own small business S-Corp but because we have disagreements we want to close the business?
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What to do if my 2 partners and I own small business S-Corp but because we have disagreements we want to close the business?
If one of the partners and I own 66.66% of the company, can we dissolve the company without having the other partner agree? Also, the partner that does not agree paid himself more in the end of the year but he owns only one third of the company just like the rest of us, can we make him pay the money back to us equally?
Asked on February 11, 2014 under Business Law, Massachusetts
Answers:
Michael Goldstein / Goldstein and Clegg
Answered 10 years ago | Contributor
In order to determine what rights you and your partners have, you really need to revisit your articles of incorporation and corresponding bylaws. It might also make sense to schedule a consultation with a small business lawyer in your area. Many of us to offer a free or reduced fee consultation for the first 30 minutes.
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