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Conversation Between JT and Jax92
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  1. Jax92
    September 8th, 2013 07:24 PM - permalink
    Jax92
    Janni,
    This was posted on the morgue in "sneaky Pete" by Peerblock:
    "I don't see anything in those documents suggesting that VPA is a subsidiary of VCA, but every corporation is its own entity. It is not illegal or wrong for one individual to be an officer of more than one corporation. A non-profit corporation is also allowed to make money, but what a non-profit is not allowed to do is pay dividends to shareholders - any surplus must be fed back into the non-profit itself as you said. Since VCA and VPA are two separate entities as far as the IRS is concerned, VPA profits do not need to be fed back into VCA even if both entities share officers."

    I can't post over there and his post should be challenged.
    Jack


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