Low-profit Limited Liability Company (L3C)
A low-profit limited liability company is a business structure that is available in some jurisdictions (although not Delaware).Although the purpose may be altruistic, most believe these entities serve no practical purpose because a traditional LLC can set-up its operating agreement to provide for this structure without a separate entity type. The requirements and benefits of […]
A low-profit limited liability company is a business structure that is available in some jurisdictions (although not Delaware).Although the purpose may be altruistic, most believe these entities serve no practical purpose because a traditional LLC can set-up its operating agreement to provide for this structure without a separate entity type. The requirements and benefits of an L3C vary among states.