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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.

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