Low Profit Limited Liability Company

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Low Profit Limited Liability Company

A limited liability company in some U.S. states that has statutory duties other than making a profit for owners. It may be formed for many purposes, such as to provide steady jobs to employees or to protect the environment. It is treated as a limited liability company for legal and tax purposes. It is not prohibited from making a profit, but it is subject to fewer regulatory requirements than a non-profit in the United States.