Hey /biz/ quick question. Say you are the sole owner of a business and it has 2 million in capital. Is it legal to just take out all of that cash and put it in a personal bank account, or are there legal barriers, even if it's 100% your own company?
>>1328491
>If you need to ask, you don't own a company with 2mm$; that's simple.
Of course the answer depends on the jurisdiction and legal nature of the company. But in general you could say: whatever you take out of the company, you own. Unless you pay it out as dividend or salary, but then you have to pay according taxes.
>>1328491
if you declair it in your taxes there is no problem i think.
>>1328491
1)taxes
2) has your company any liabilities? you cant take a mass credit, cash it out to your private bank, and send the company into bankrupty
>>1328501
Fucking autocorrect.
>whatever you take out of the company, you OWE.
>Unless you pay it out as dividend or salary, but then you have to pay according taxes.
One shitty little word turns the whole thing 180°
