Sub-S Shareholder/Sub-S Tax return

[Kurly]

Good Day:

Does the shareholder of an Sub-S entity have the right to complete copies of the tax return?

The primary Shareholder seems to think no, only their K-1.

Thanks

[DaveinTexas]

Kurly, where have you been hiding?

Great question, I think you should refer to your State's Business Code as each state affords different rights to shareholders and minority shareholders.

In Texas, for example, the general rule is you must have had your shares for at least 6 months and you must hold at least 5% of the outstanding shares to have the right to inspect books and records. Each state will be different.

I did a quick search and found this article on Utah Corps (I assumed you are in Utah); http://shareholder-rights-law.com/Sh...tah-Index.html

Good luck; let us know what you can find out about this, it could be helpful to others.

[luke]

Kurly

I dont think Kurly has ANY responsibility to provide more than ONE copy of the SubS tax return to the Corp - If other shareholders have a "right" to inspect etc Then they would have to get that access (and/or copies) FROM THE SUBS Corp not the preparer!