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Asad Rahman
Asad Rahman, Attorney
Category: Business Law
Satisfied Customers: 2156
Experience:  Practicing Attorney with 10 years experience
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Castillo managing partner vitami. Source llc. May be audited

Customer Question

Castillo managing partner vitami. Source llc. May be audited by my partners. My brother and I own 51% of the business
JA: Thanks. Can you give me any more details about your issue?
Customer: We have run the business for 10 years always in the negative, but my brother and myself have out a lot of money into the business. Barely paying ourselves for years. The other partners never came around and now want to have a forensic tax lawer look at our books.
JA: OK got it. Last thing — Business Lawyers generally expect a deposit of about $18 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.
Category: Business Law
Expert:  Asad Rahman replied 1 year ago.

I understand your frustration. Under the law minority shareholders do have a right to the financials of the company. They have a right to ensure that the company is being run very well and it is not necessarily contingent on their level of involvement. Your corporate by-laws should account for this, but if they are silent, then your state business code usually reserves this right.