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Low-profit Limited Liability Company (L3C)

By IncNow | Published October 19, 2013

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.

When deciding where to form your company, consider that Delaware has advantages over your home state that may benefit you. Go