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A flexible purpose corporation (FPC) was a class of corporation in California lacking a profit motive when pursuing a social benefit defined in its charter. [citation needed] A flexible purpose corporation differed from a Benefit corporation in that it targeted for-profit entities seeking traditional capital market investment.
In California, "[t]he amendment, S.B. 1301, changes existing law (found under Corporations Code Sections 2500–3503) [1] to emphasize the social-purpose nature of the flexible purpose corporations, most notably by changing its name to the "Social Purpose Corporation".
Flexible purpose corporation – California corporation pursuing a social benefit; Green America – US non-profit organization; Impact investing – Investing in enterprises aiming at creating social/environmental impact alongside profit; Low-profit limited liability company – Legal form of business entity in the US
One possible solution may be to form a new corporation and merge into it, dissolving the LLC and converting into a corporation. Many jurisdictions—including Alabama, California, Kentucky, Maryland, New York, Pennsylvania, Tennessee, and Texas—levy a franchise tax or capital values tax on LLCs. In essence, this franchise or business ...
A low-profit limited liability company (L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [1]
Corporations Code July 1, 1947 Stats. 1947, Ch. 1038, pp. 2309–2441 Education Code April 7, 1943 ... The Codes form an important part of California law. However ...