My jurisdiction is: Texas
I'm a 10% owner of a small (2-person) S Corp. During the time that I've held stock, the corp has declared a profit each year. There have been no dividends paid, although I receive a K-1 to pay my share of the taxes each year.
My salary has just been cut by 20%, although I believe the Corp is still paying for the other owner's Porsche, company boat, etc.
My question is, do I have a right to request (or should I be getting) copies of the monthly financial statements?
I'm a 10% owner of a small (2-person) S Corp. During the time that I've held stock, the corp has declared a profit each year. There have been no dividends paid, although I receive a K-1 to pay my share of the taxes each year.
My salary has just been cut by 20%, although I believe the Corp is still paying for the other owner's Porsche, company boat, etc.
My question is, do I have a right to request (or should I be getting) copies of the monthly financial statements?