Optimize your remuneration: Salary vs Dividends in SASU

The two are not alternatives: they carry different charges and open different rights. A salary places the president under the general scheme as an assimilated employee; it is deductible from the company's profit and builds pension rights from €1,803 of contributory pay over the year in 2026 (150 times the hourly SMIC in force on 1 January) for one quarter, validation being assessed on the annual total, up to four quarters per calendar year. A dividend comes out of profit already taxed at corporate level (15% within a limit of €42,500 of taxable profit per twelve-month period, provided turnover does not exceed €10m, the share capital is fully paid up and is held continuously as to at least 75% by individuals or by a company itself meeting those conditions; 25% above that limit and where those conditions are not met), then bears the 31.4% flat tax, and opens no social rights at all. In a SASU, unlike an EURL, no share of the dividend is subject to self-employed contributions.

The question of the remuneration of the president of SASU (Simplified Single Stock Company) is a great classic of end-of-year optimization. Should we pay a traditional monthly remuneration, or favor the distribution of dividends at the end of the financial year? There is no pre-established answer: the optimal strategy depends on the manager's profile, their target social coverage, the company's results and their life objectives.

This detailed guide presents the mechanisms, examples quantified on €50k, €100k and €200k profit, and concrete strategies to maximize your disposable net income.

The salary of the president as an employee#

In SASU, the president is legally an "equated employee" affiliated to the general Social Security system (except unemployment insurance). His remuneration is subject to significant social security contributions.

Cost of social charges:

• Employer contributions: the president of a SASU bears neither the unemployment insurance contribution nor the AGS levy. The rate depends on the level of remuneration (differentiated health and family allowance rates, AGIRC-ARRCO band 1 or band 2) and on the work accident rate notified by the Carsat. The general reduction in employer contributions does not apply to a president with no employment contract.
• Employee contributions: in the order of 20.8% in band 1 for a president paying no unemployment contribution, more in band 2.
• The worked examples in this guide use a coefficient of €1.80 of employer cost for €1 net, to be adjusted for the company's actual work accident rate.

Salary Benefits:

• Complete social coverage: health insurance, welfare, basic and supplementary retirement (AGIRC-ARRCO)
• Validation of retirement quarters: 150 times the hourly SMIC in contributory pay validates one quarter, i.e. €1,803 gross in 2026; 600 times the hourly SMIC, i.e. €7,212 gross, validates all four quarters of the year
• Total deductibility of taxable income for IS

Dividends under flat tax#

Dividends are only distributable after approval of the annual accounts and the existence of a distributable net profit. They are first subject to IS at the company level, then flat tax at the partner's level.

The flat tax (Single Flat Tax):

• Total rate: 31.4% = 12.8% IR + 18.6% social security contributions (Social Security Financing Act for 2026, article 12: CSG raised from 9.2% to 10.6% from the taxation of 2025 income for capital income and from 1 January 2026 for investment income, article L. 136-8 of the Social Security Code)
• Opting for the progressive income tax scale, which opens the 40% allowance on distributed income, remains available. The election is express, made each year when filing the return, and global: it covers all of the household's investment income and gains for the year, including capital gains on disposals (article 200 A, 2, and article 158, 3, 2°, of the CGI)
• No additional social charges in a SASU, unlike an EURL or SARL, where the share of dividends exceeding 10% of a reference amount made up of the share capital, issue premiums included, held outright or in usufruct, plus the sums standing in the shareholder's current account, is subject to self-employed social contributions and levies (article L. 136-3, II, of the Social Security Code)

Disadvantages of dividends:

• No right to retirement or social protection
• Available after closing, approval of the accounts and confirmation of a distributable profit. The six months often quoted are the maximum deadline for approving the accounts, not a waiting period: nothing requires holding off until then. Distributing before the accounts are approved does, however, mean paying an interim dividend, which is only possible on a balance sheet drawn up during or at the end of the financial year and certified by a statutory auditor (article L. 232-12 of the Commercial Code). A SASU with no statutory auditor therefore cannot pay an interim dividend: the dividend waits for the sole shareholder to approve the accounts.
• "Hidden" IS cost: dividends come from profit after IS

Case A: €50,000 profit before remuneration#

Hypothesis: No salary, all dividends

• Corporate tax: (€42,500 × 15%) + (€7,500 × 25%) = €6,375 + €1,875 = €8,250
• Profit after corporate tax: €41,750. The amount actually distributable is not exactly the profit after corporate tax: the legal reserve must first be funded, at a rate of at least one twentieth of the year's profit less any prior losses, until it reaches one tenth of the share capital (article L. 232-10 of the Commercial Code). The allocation is marginal on a token capital; it is not on a capital of several thousand euros.
• Flat tax 31.4%: €13,110
• Net income received: €28,640
• Total tax cost: €21,360 (42.7%)
• Social protection: NONE

Assumption: Minimum salary (retirement coverage) + dividends

• Monthly net salary: €1,500/month = €18,000 net/year
• Employer cost: ~€32,400
• Residual profit before IS: €50,000 - €32,400 = €17,600
• IS 15%: €2,640 → Net distributable dividend: €14,960
• Flat tax 31.4% on dividend: €4,697 → Net dividend: €10,263
• Disposable income before income tax on the salary: €18,000 + €10,263 = €28,263
• The net salary shown is still subject to the director's income tax (employment income, after the 10% allowance), at their marginal rate; the dividend is already net of tax under the flat tax. The two totals are only comparable once income tax on the salary has been deducted.
• + 4 quarters of retirement validated per year

Conclusion €50k: the difference in net income is small (€377), and it must be read with care: the €28,640 of the all-dividend route are already net of the flat tax, whereas the €18,000 salary is still subject to the director's income tax. What that gap buys is the four pension quarters and the cash benefits.

Case B: €100,000 profit before remuneration#

Assumption: Moderate salary (€3,000 net/month) + dividends

• Annual net salary: €36,000
• Employer cost: ~€64,800
• Residual profit before IS: €100,000 - €64,800 = €35,200
• Corporate tax (15% reduced rate capped at €42,500 of taxable profit, 25% above): €35,200 × 15% = €5,280
• Net distributable dividend: €29,920
• Flat tax 31.4%: €9,395 → Net dividend: €20,525
• Disposable income before income tax on the salary: €36,000 + €20,525 = €56,525
• The net salary shown is still subject to the director's income tax, at their marginal rate; the dividend is already net of tax under the flat tax.

Assumption: High salary (€6,000 net/month)

• Annual net salary: €72,000
• Employer cost: ~€129,600
• No residual profit (€100,000 < €129,600 → tax loss)
• Total net income: €72,000 but deficit carry forward

Conclusion €100k: The moderate salary mix (€3,000/month) + dividends optimizes net income. Beyond €3,500 net/month, social charges consume all the residual profit. A payment into an individual PER remains relevant, but it reduces the director's own income tax at their marginal rate, not the company's corporate tax.

Case C: €200,000 profit before remuneration#

Moderate salary combined with dividends

• Monthly net salary: €4,000 (€48,000/year) → employer cost ~€86,400
• Residual profit before corporate tax: €200,000 - €86,400 = €113,600
• Corporate tax: (€42,500 × 15%) + (€71,100 × 25%) = €6,375 + €17,775 = €24,150
• Profit after corporate tax: €89,450
• Flat tax 31.4%: €28,087 → Net dividend: €61,363
• Total net income: €48,000 + €61,363 = €109,363
• Payment of €20,000 into an individual PER, made out of the director's own income (no effect on the corporate tax above)
• Overall effective deduction rate: ~45% on the €200,000 profit, before the director's own income tax on their salary

Conclusion €200k: combining a moderate salary, a PER payment and dividends spreads the charge across three separate bases. The PER does not reduce the company's corporate tax: it lowers the director's income tax, at their marginal rate, in exchange for savings locked until retirement.

Retirement is often the poor relation of the all-dividend. Here's why:

With no remuneration, the president of a SASU validates no quarter and acquires no points: the pension built under the mandate is nil, not low. Quantifying a pension requires the full career, the number of quarters and the year of birth. No generic table can do it honestly.

The supplementary retirement solution for SASU managers: the PER

The individual PER is deducted from the holder's total taxable income (article 163 quatervicies of the CGI), not from the company's corporate tax base. It saves the director income tax at their marginal rate; it does not reduce the SASU's corporate tax. The confusion is common and it changes the whole calculation.

The ceiling is computed on the previous year's professional income, with a floor of 10% of the annual social security ceiling; any unused ceiling is carried forward over the following five years (article 163 quatervicies of the CGI).

PER 2026 ceiling: For a SASU president classified as an assimilated employee, the ceiling is 10% of net remuneration within the limit of 10% × 8 PASS 2025, i.e. €37,680 (PASS 2025 = €47,100; 8 PASS 2025 = €376,800). Unused ceilings from previous years may be added: the 2026 Finance Act extended that carry-forward from 3 to 5 years, with no transitional provision, its reach over pre-2026 ceilings remaining to be clarified.

The associate current account: an often forgotten tool#

The associate current account (CCA) allows the associate to lend money to his company. The interest paid by the company on that current account is deductible from taxable profit, within the limit of the rate set by article 39, 1, 3° of the CGI, which refers to the annual average of the average effective rates charged by credit institutions. That rate is republished quarterly by the tax authorities: it stands at 4.33% for twelve-month financial years ending between 30 June and 29 September 2026 (BOI-BIC-CHG-50-50-30), and must be checked for the closing period concerned. The deduction is conditional on the share capital being fully paid up, whatever the shareholder's role: a SASU whose capital is not fully paid up may deduct no current-account interest at all. For the partner, this interest is subject to flat tax (31.4%).

Advantage: Simple mechanism, no social charges, IS deductible. Ideal for remunerating capital provided.

Limits: No retirement contributions, reimbursement possible only if cash flow allows.

The three-level strategy#

1. Level 1, minimum social protection: Salary allowing you to validate your 4 pension quarters (€7,212 gross over the year in 2026, i.e. 600 times the hourly SMIC in force on 1 January) and to maintain health coverage.

2. Level 2, the director's own income tax: a payment into an individual PER, deductible from the holder's total taxable income within their annual ceiling, then distribution of the residual dividends at the 31.4% flat tax.

3. Level 3, long-term capitalisation: If personal needs are covered, keep the profits in the company or bring them back via a Holding to reinvest. Note how far the mechanism actually goes: only the dividend flow benefits from the parent-subsidiary regime. Rents, financial income and capital gains earned by the holding company are taxed at the ordinary corporate rate..

When the SASU generates significant profits (over €150,000 a year) that the director does not need to draw immediately, a holding company becomes worth examining. It is only justified by an identified reinvestment project, to be weighed against the cost of setting up and running the structure.

Mechanics:

1. The SASU pays its dividends to the parent holding company.
2. Parent-subsidiary regime: the holding company adds back a 5% share of costs and expenses on the dividend received, taxed at the corporate rate, i.e. an effective charge of 1.25%. The regime requires registered shares, a holding of at least 5% of the subsidiary's capital and a two-year retention undertaking (articles 145 and 216 of the CGI); a disposal before that term triggers repayment of the tax saved, plus late-payment interest. The share of costs falls to 1% where the paying and receiving companies belong to the same tax-consolidated group and the shareholding has been held for more than one financial year. Interposing a holding company does not cost the SASU the 15% reduced corporate tax rate, provided the holding itself meets the conditions of article 219 of the CGI.
3. The Holding reinvests these funds (real estate, other investments, financial investments).
4. The manager pays himself a salary from the Holding only for his current needs.

Economy vs direct distribution: On €150,000 of dividends redistributed to an individual, the flat tax costs €47,100 at the 31.4% rate. Via the holding, the immediate cost is €1,875, a €45,225 difference. Read it carefully: that amount stays inside the holding. It is not available to the director, and the flat tax falls due the day it is taken out.

Read also: Holding and tax optimization | Holding vs SCI: which arrangement to choose?

For a manager with a profit of €100,000:

• In an EURL: two distinct tax regimes, which must be stated before any comparison. Under income tax (the default where the sole shareholder is an individual), the manager is taxed on the profit and there is no intermediate corporate tax; self-employed contributions are assessed on that profit. On election for corporate tax, the profit bears corporate tax and distributions then follow the dividend regime, with the 10% rule of article L. 136-3, II, of the Social Security Code. The table above describes an EURL subject to corporate tax, the SASU itself being compared on the same basis.
• In SASU: Heavier charges on salary, but dividends completely free of social security contributions.

The SASU is generally preferable for high profits (> €80,000) where the share of dividends in the remuneration is significant.