Originally Posted by
Dead Serious
^^^^ Uh ?
SO...you EACH own a 50 % SHARE?
By definition a "corporation" is a group of individuals authorized to act as a single entity ( or person ).
Although, there is such a thing as a " Single Member LLC " ...For the most part, they involve shares of ownership.
D.S
Right what I am saying is we don't have "shares" unlike my last little company which was incorporated as a C Corp and had issued shares. There's a difference one has % of ownership the other one issues shares of stock. FYI the simplest tax friendly form of a small company I've found out is a LLC/ S Corp.
I formed the business because I am an A&P/ IA and do maintenance besides my flying job. I am a little paranoid about getting laid off again and want something to instantly fall back on.