Low Profit Limited Liability Companies: Difference between revisions
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(Created page with ' =Description= "On April 30, 2008, Vermont became the first state to recognize the L3C as an official legal structure, and similar legislation has since been pushed in other s...') |
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Revision as of 08:56, 8 January 2011
Description
"On April 30, 2008, Vermont became the first state to recognize the L3C as an official legal structure, and similar legislation has since been pushed in other states. An L3C has an explicit primary charitable mission and only a secondary profit concern. But unlike a charity, the L3C is free to distribute the profits, after taxes, to owners or investors." (http://socialbusiness.socialgo.com/magazine/read/emerging-legal-structures-indicate-growing-awareness-of-need-for-social-business_1.html)