Lynn Campbell
Nov 3 1998, 04:53 PM
Corp. owned by 2 brothers 50/50. Their brother works for the business, is not an officer, owns no stock, earns about $50,000. Is the brother an HCE?
Bill
Nov 3 1998, 06:24 PM
No, the ownership attribution rules that may drag him into greater than 5% ownership only apply to spouses, children, parents and grandparents so he'sonly subject to the compensation test on his own.