A Jargon-Free Guide to Low-Profit Limited Liability Companies (L3C)
NonProfit Hub
JUNE 1, 2017
Though L3Cs are socially conscious, they’re not tax-exempt , and donations and investments are not tax-deductible. As of April 2016 , legislation is being reviewed and enacted in 26 other states to recognize L3Cs as a legal entity, potentially opening the option to a total number of 34 states nationwide, if you’re keeping track.
Let's personalize your content