A Jargon-Free Guide to Low-Profit Limited Liability Companies (L3C)
NonProfit Hub
JUNE 1, 2017
An L3C is a variation of a limited liability company (LLC), which is a private organization where the owners actively participate in management and don’t face personal liability for the organization’s debts and obligations. Among the benefits, starting an L3C is a very simple filing process—almost identical to that of an LLC.
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