A Jargon-Free Guide to Low-Profit Limited Liability Companies (L3C)
JUNE 1, 2017
In this blend, an L3C is a private organization that does earn profits, but only so that it can conduct business to help a certain cause. 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. The federal jurisdictions of the Crow Indian Nation of Montana, the Oglala Sioux Tribe, the Navajo Indian Nation and Puerto Rico.