J
Jim Morling
Guest
Michigan
My wife and I, together with another married couple formed an S corporation. The shares are split 50-50 between the two couples. In order to take advantage of some of the benefits gained by being a woman owned company, we would like to reallocate the shares, still keeping the 50-50 split between the two couples, but splitting the shares 60-40 between husband and wife. Since we are an S Corporation I realize that for tax purposes each couple is considered as 1 share holder so I am not sure if the husband/wife split is possible.
Any ideas?
My wife and I, together with another married couple formed an S corporation. The shares are split 50-50 between the two couples. In order to take advantage of some of the benefits gained by being a woman owned company, we would like to reallocate the shares, still keeping the 50-50 split between the two couples, but splitting the shares 60-40 between husband and wife. Since we are an S Corporation I realize that for tax purposes each couple is considered as 1 share holder so I am not sure if the husband/wife split is possible.
Any ideas?