Adding officer to corporation

Opening a company without legal guidance is not wise. You may find yourself with a dizzying number of tax rules and obligations. Not putting certain information in your corporate kit can subject you to tax exceptions and fines. Basically you need to decide how much a percentage of ownership and voting stock you want to give the new person. If you want him to be a private lender,you need to set up a Promissory Note with him.
If you want him to be a shareholder, then you need to decide how many shares and what their dollar worth is. Finally, you need an operating agreement, a buy sell agreement to maintain the fiscal integrity of your company. MY partner James DeFelice helps NYC businesses get started. His contact information can be found in his avvo profile.

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LEGAL DISCLAIMER
Mr. Sarno is licensed to practice law in NJ and NY. His response here is not legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Sarno strongly advises the questioner to confer with an attorney in their own state to acquire more information about this issue.