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.

References in periodicals archive ?

from population of 'pure' Alpine chamois, population of 'pure' Balkan chamois, or population where introgression of genes of both subspecies had occurred in the past (thereafter 'hybrid population'), had a significant effect on the L2 horn segment growth, L2C and L3C for males (p < 0.001).

Is chamois hybridization in the northern Dinaric Mountains an important factor for horn development?

(7.) Kate Cooney et al., Benefit Corporation and L3C Adoption: A Survey, STAN.

Social enterprise as commitment: a roadmap

New organizational forms such as the Low-Profit Limited Liability Company (L3C) or B Corp Certification are possible venues for human service research funding.

The changing role of private, nonprofit organizations in the development and delivery of human services in the United States

Corporate officers must form L3C's to further a charitable or

The viability of benefit corporations: an argument for greater transparency and accountability

Just as the L3C embeds socially beneficial purposes into its business structure but maintains the basic partnership form, benefit corporations have socially beneficial purposes embedded within the traditional corporation structure.

Having your cake and eating it, too: making the benefit corporation work in Massachusetts

description of itself notes its ability as an L3C to receive grants like

Taxing social enterprise

Notably, the IRS did not include an example in which the recipient organization is a low-profit limited liability company (L3C), a relatively new business entity designed to attract foundation investment.

Recycling charitable dollars: IRS gives green light to more program-related investments: expanded guidance opens door for foundations to make creative use of precious charitable resources

In fact, the growing airline proudly proclaims that it is the industry's first truly Low Cost Cargo Carrier, hereafter known as the L3C model.

New carrier touts low-cost cargo model

Stuart Arnett fields a lot of questions about the "L3C" at the end of his company's name.

Has the time come for N.H. to adopt the L3C? New low-profit limited liability corporation is a nonprofit/for-profit hybrid

Some are turning to hybrid entities, including the low-profit limited liability company (L3C), which was specifically designed to increase the number of program-related investments that private foundations can make to such socially centered businesses.

The need for hybrid businesses: examining low-profit limited liability companies and benefit corporations

29, 37 n-29 (2011) ; see also John Tyler, Negating the Problem of Having "Two Masters": A Framework for L3C Fiduciary Duties and Accountability, 35 VT.