Not enough information is it a corporation, partnership, LLc or LLP? Consult with a CPA about taxes.
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You need to be a little more specific about what sort of account you're asking about, what business it relates to, how the business is run (e.g., corporation, LLC, partnership, sole proprietorship), and the relationship of the two people in question to the business.
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I agree..you need far more information than what you have provided.
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