Is an officer who indirectly owns a corporation (i.e. through another legal entity) excluded?
No. In order to meet the exclusion, an officer must own the corporation directly (not through another legal entity). Return to Main Menu If Person A is listed as 100% owner of a trust; the trust owns 100% of a corporation of which Person A is an officer, are Person A’s wages (paid by the corporation) excluded since they are effectively 100% owner and an officer of the corporation? No. To be excluded, a corporate officer needs to have 25% or more direct ownership of the corporation. In this example, the trust is the owner of the corporation and, therefore, all corporate officers (who perform services for the corporation) are covered.
