I’ve written about B corps before. These are conventional, for-profit entities- kind of. Kind of, because they are supposed to be ‘Benefit Corporations’. Instead of being totally capitalistic entities, they use their profits for the good of the community, their employees, and others, as well as their owners.
Continue reading Is your next one a B?
Up April 2010, the choice when incorporating a not-for-profit entity was a C (sometimes termed a “regular”) corporation. Now, there’s a new choice- the B corporation, a benefit corporation. This new corporate entity exists “for profit”- but is, theoretically, charged to benefit stakeholders OTHER than shareholders. At least, if you plan to incorporate in the following states- New York, New Jersey, California, Virginia, Hawaii, Vermont, Colorado, North Carolina, Pennsylvania, Michigan, Washington, and the first state to do so- Maryland, you can form a B corporation.
Continue reading LLC, S, C, and now B?