Definition of Manager:
An LLC may be managed by its members (i.e., its owners) or by its managers. If managed by managers, there may be a single manager or several managers (sometimes called a Board of Managers). Managers serve the LLC similar to how a Board of Directors serves a corporation.
Today’s Question — Friday, July 30
Must I pay all of my employees?
It is not unusual for start-up companies to have limited cash resources. It is also not unusual for entrepreneurs to entice employees to the company by offering stock compensation, instead of cash, until such time as the business can afford to pay regular salaries. However, it is advisable to consult with an employment lawyer in your state of operations to determine if this is permissible under the state’s wage statutes. In most cases, the lawyer will likely advise that each employee be paid an amount equal to applicable minimum wage amounts.
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