1) Agree on ownership (you own 45%?) 2) Your partner needs to start taking a salary - negotiate the amount. 3) Pay partner's salary directly from the profit,

1) Agree on ownership (you own 45%?) 2) Your partner needs to start taking a salary - negotiate the amount. 3) Pay partner's salary directly from the profit, and then split the remaninder according to equity. What's complicating matters is that you are splitting the company profit and avoiding salaries.