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What should I file my company as for 3 owners?

Discussion in 'Business Operations' started by doubleedge, Jul 22, 2008.

  1. doubleedge

    doubleedge LawnSite Senior Member
    from ND
    Messages: 911

    My company already is a partnership, but I would like to include one more person person as owning part of the business. Also, if all the people working for the company are owners, would I need worker's comp?
  2. barefootlawnsandlandscape

    barefootlawnsandlandscape LawnSite Senior Member
    Messages: 296

    We have 3 owners and have it set up in an LLC. Just divide out the shares according to the percentage of ownership each person has. That way if you sell the company each person will receive the value of the amount of shares they own.

    If everyone is an owner you will only need a worker's comp waiver, at least in Arkansas.

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