Hello
Recently me and my business partner decided to fast track one of our projects by paying our most productive member a little bit. (for 15 hours a week) we've discussed it and looked at our own personal finances, and we settled on an hourly wage we could afford.
The thing is, he was originally meant to be a business partner, but due to his circumstances at the time of incorporation he was not able to do it.
Are there rules and regulations we should be aware of?
I'm in California, and the contractor is in Louisiana .
Are there things we should discuss with the contractor?
He is working more than 15 hours a week, he is only billing us for 15. 15 hours is what we can afford at this time.
This payment is in instead off any profit sharing.
How would things change after he becomes a business partner if that day ever comes?
