why would an employer want to hire me for the sole purpose of ACTING as the president, vp, secretary, treasur?
i have no experience and im fresh out of college. i was presented with a contract to sign as these positions, but the employer said i will not perform any of their duties. My employer is currently the CEO of another company. why would an employer do this? i suspect it has something to do with taxes? Is this legal?
- Anonymous1 decade agoFavorite Answer
I was for a few years the President of National Vanguard Books. It was a paper title for an unsalaried position. In actual fact, I worked for the publisher as an editor on a volunteer basis. The publisher needed somebody's name to put on the corporation paperwork that had to be filed with the state, and he asked me if he might use mine. I said OK, then I went back to work and didn't think about it again for a long time.
The state government thinks that corporations need executive officers. Someone has convinced the lawmakers that executives are indispensable and that they do necessary things. So they demand that corporations provide such positions and keep them filled, and so the corporations must do so, or at least seem to do so "on paper."