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. 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!