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TD attorney question...
Posted on 1/19/13 at 11:45 am
Posted on 1/19/13 at 11:45 am
I have scoured the internet but cannot substantiate the grumblings around the corporate water cooler.
Privately held Corporation X has three LLC's (let call them A LLC, B LLC and C LLC)under its ownership... profit sharing is setup for the whole corporation for all employess working for all three LLC's. A LLC profits are soring while B LLC and C LLC are flat or declining. Employess of A LLC feel slighted about reduced profit sharing due to poor performance of B & C LLC...some have said this is called "mingling" and is illegal. I don't see anything wrong with it. BTW I work for A LLC.
Privately held Corporation X has three LLC's (let call them A LLC, B LLC and C LLC)under its ownership... profit sharing is setup for the whole corporation for all employess working for all three LLC's. A LLC profits are soring while B LLC and C LLC are flat or declining. Employess of A LLC feel slighted about reduced profit sharing due to poor performance of B & C LLC...some have said this is called "mingling" and is illegal. I don't see anything wrong with it. BTW I work for A LLC.
1
Posted on 1/19/13 at 12:15 pm to cuyahoga tiger
Everything depends on the legal details so I don't know for certain.
However, if
is correct then this could be perfectly legal.
ETA: Of course, nobody complaining today will say "boo" five years down the road when the situation is reversed.
However, if
quote:
profit sharing is setup for the whole corporation for all employess working for all three LLC's
is correct then this could be perfectly legal.
ETA: Of course, nobody complaining today will say "boo" five years down the road when the situation is reversed.
This post was edited on 1/19/13 at 12:16 pm
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