Posted on 11/11/2010 1:47:02 PM PST by sten
the money held within the account of a private corporation is not available to the shareholders of the company without breaching the corporate wall. this would mean the shareholders would be liable for the everything the corporation did, including paying taxes on the money earned by the corporation... at personal income levels.
the only legal way for a shareholder to get money from a corporation is thru distribution, wages, expenses or dividends. all of which are taxed.
the money remaining in the account would be unused.
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