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Thread: Anxious about delegating Board Members/LLC Florida

  1. #1
    Junior Member
    Join Date
    Jan 2007
    Posts
    8

    Default Anxious about delegating Board Members/LLC Florida

    Hello Everyone,
    I am in the process of constructing a contract for my Ltd. Liability Company and I am having trouble with a few things. I am the owner/CEO of my company and I would like to delegate members under me to assist me. I would like for them to most definitely recieve compensation, but I dont want them to become owners of the business. I have put alot of hard work into starting this and I intend to make this my lifelong company. and I havent seen enough work from the 2 partners to just give them a piece of the company. So my question is what would be their position in the company if I was to remain a single member company (for now, if they show dedication and hard work, ill be happy to make them owners) how would i construct a detailed contract to clarify their duties/spot in the company without making them feel screwed. I have read that in a LLC, if you delegate board members, they reserve the right to terminate you, which is another reason im fearful.
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  2. #2
    Senior Member
    Join Date
    Oct 2006
    Location
    California
    Posts
    946

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    Duplicate Post.
    Barry S. Phillips, CPA
    www.BarryPhillips.com

    IRS Circular 230 Disclosure: This response is intended to provide general information and written for educational purposes only. It does not establish a client relationship. This communication is not intended to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to any party any matters addressed herein.

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