A Jargon-Free Guide to Low-Profit Limited Liability Companies (L3C)
JUNE 1, 2017
Other examples have included farmers’ markets, newspapers, law groups and art centers. Though L3Cs are socially conscious, they’re not tax-exempt , and donations and investments are not tax-deductible. As of December 2015 , L3Cs are only recognized in 10 states, three tribes and the territory of Puerto Rico, so if you are building your organization in one of the following places, yes you can! So you want to start an organization that benefits a specific cause. Great!