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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 1611
Experience:  Run my own successful business/contract law practice.
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What documents do I need to ensure a 50-50 partnership in an

Customer Question

What documents do I need to ensure a 50-50 partnership in an S Corp in California?
Submitted: 11 months ago.
Category: Business Law
Expert:  Richard replied 11 months ago.

Good afternoon. My name is ***** ***** I look forward to helping you.

Can you clarify something for me? Is this an LLC which has made an S Election. Or is this entity formed as a corporation which made an S Election? Thanks.

Customer: replied 11 months ago.
Hi Richard,
It was originally an LLC but changed to S Corp.
Customer: replied 11 months ago.
I can send you the operating agreement?
Expert:  Richard replied 11 months ago.

Thanks. Ownership is referenced and provided in the Operating Agreement itself. The Operating Agreement is a contractual agreement between the owners and should specifically set forth that the ownership interests of each member is 50%. Does your agreement provide for this? Thanks.

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