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This is a list of benefit corporations This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources .
An ordinary corporation may change to a benefit corporation merely by stating in its approved corporate bylaws that it is a benefit corporation. [ 2 ] A company chooses to become a benefit corporation in order to operate as a traditional for-profit business while simultaneously addressing social, economic, and/or environmental needs. [ 3 ]
Public benefit corporations (2 C, 16 P) Pages in category "Benefit corporations" The following 36 pages are in this category, out of 36 total.
Public benefit corporations, also known as benefit corporations, are for-profit businesses whose charters commit them to social or environmental missions, not just maximizing shareholder value.
Some mutual water companies are organized as mutual benefit corporations; an electric membership corporation is another example. Mutual benefit corporations have their roots in the benefit societies that sprang up to offer services and solidarity to workers during the Industrial Revolution, although most today do not have any particular ...
In the United States, a benefit corporation is a legal status conferred by state law in the US. Legislation for the passage of benefit corporation legal status has been passed in 35 states, including Delaware. [16] B Lab certification is privately issued by a non-profit organization run by people principally from the business community.
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
That vastly simplifies tax filing and helps S corporations avoid corporate taxes. In some cases, LLCs can elect to be taxed as S corporations, which can offer tax benefits. B corporation