Vermont Law Authorizing L3C Business Entities Supports Vermont’s Economy and Social Infrastructure
My blog posting on "Vermont's Thriving Nonprofit Sector..." (May 26, 2008) addresses how Vermont’s robust nonprofit sector enhances our state’s economy both directly, by providing good jobs and attracting dynamic people to Vermont, and indirectly, by enhancing the social infrastructure which is critical to economic growth. The new L3C law passed by the Vermont Legislature makes it easier for private foundations to directly invest in Vermont’s economy without jeopardizing their favorable tax-exempt status. The L3C law is another avenue for cross-pollination between the nonprofit sector (including private foundations) and our for-profit economy.... Read the full post.
Submit your questions about L3Cs as comments here, and we will address them in our firm's upcoming FAQs on L3Cs, to be posted at www.dinse.com.
Leigh Cole
1 Comment
Reader Comments (1)
Thanks Leigh for this information! Here are a few questions.
What further research would you recommend for someone interested in learning more about the L3C? Is it possible to change an existing LLC to a L3C and what would that entail? Also, can an L3C be a sole proprietorship?