Does owning 49% of a small business which is set up as a s corporation, still sign me as a "partner"?
Answers:
No. Being labeled a Partner is simply applicable when the business is a "partnership" and if it is an S Corp., later it cannot also be a partnership.
You are a shareholder. Part owner, but not partner. There are no legalized "partners" contained by a corporation.
yes, even at 1% you're still a partner