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?
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