LLC Partnership With Commision
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pepillo
Apprentice
Joined: 11 Jun 2007
Posts: 9
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 Posted: 10/03/07 - 10:48 Post subject: |
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| I have recently set up a small business company. It is an LLC type, and i have several partners. I would like to know what is the best way to determine how much should each partner be paid if each is designated commission salesman? Thanks for any advice, it will be very helpful. Thanks in advance. |
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locke
Apprentice
Joined: 25 Dec 2006
Posts: 11
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| Posted: 11/07/07 - 03:19 Post subject: |
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| The problem with partnerships can be numerous and it is important that you are extremely careful in order to avoid any. Since you are LLC and each is a commission salesman, on paper it should mean that each of you has a guaranteed salary, with the additional sums that would vary on the success of each of you. That way, no one could complain it is being paid too little, and that others are trying to cut him off. Since each of you would be paid based on the profit he makes for the partnership, the amount of money you will be taking for payment would be counted as partnership expenses. Given all that I have said, you need to be sure to regulate your taxes, as LLC companies, especially partnerships, tend to have more difficulty with the determining taxes, so be sure to sort it all out with an expert. Best of luck. |
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