The Go-To listing for local registered
L3C Profit-Optional Corporations.
Through funding we will provide everything an individual needs to electronically register as the sole member and proprietor of a legal financially independent pass through entity called a United States Corporation.
Having your own corporation provides you with all the tools that the big dogs have, plus a platform for independently funding and presenting your ideas and projects giving you a crucial ‘second vote’ for our political and economic success.
Since the L3C is a form of limited liability company (LLC), it has many of the defining characteristics of a traditional LLC: flexible ownership and management structure; limited liability for the actions and debts of the company; and, default classification as a “pass-through entity” for federal tax purposes. The profits generated by an L3C are default taxed at the member level on the members’ individual tax returns, but tax-exempt nonprofits that invest in L3Cs may receive profits tax-free (so long as the L3C’s income is related to the non-profit’s charitable purpose and the non-profit uses the profits to further charitable purposes {catch 23}).
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Choosing a Nonprofit Classification, Public Benefit (T.11B) or Mutual Benefit (T.11B), with a Consumer (T.11, Ch7).
The low-profit limited liability company (L3C), is a business structure under Vermont law that allows for the creation of an entity that would be a hybrid of a nonprofit and for-profit entity. In particular, the L3C is a type of limited liability company (LLC) designed to attract private investments and philanthropic capital in ventures designed to provide a social benefit.
Unlike a standard LLC, the L3C has an explicit charitable intent as its primary mission; but unlike a charity, the L3C is free to distribute the profits, after taxes, to owners or investors. As such, it has become a vehicle of choice for social entrepreneurs. The basic purpose of the L3C is to signal to foundations and donor directed funds that entities formed under this provision intend to conduct their activities in a way that would qualify as program related investment (PRI), for the purposes of the IRS.
Foreign (Non-Vermont) L3Cs Doing Business in Vermont
If you are an existing out-of-state L3C and wish to do business in Vermont, you need to obtain a Certificate of Authority from the Office of the Secretary of State. For more information about registering as a foreign L3C, please see “Foreign Business Registration.”
Below is a general guide to the information you will need to start or register your business entity—trade name (DBA), LLC, corporation, nonprofit corporation, L3Cs, benefit corporation, or mutual benefit enterprise—online. The whole process only costs about 195$, Free when funded.
What information will I need to complete my business registration online?
All entity registrations require:
A name for your business entity, including any alternate names if the desired name is unavailable.
A physical address for your business.
An email address for your business to which you have regular access.
An optional mailing address for your business (if you use a P.O. box, this is where you would list it).
The name and street address of a registered agent located in Vermont.
Names of officers or directors, if applicable.
Payment of the required fee by credit card or e-check/ACH.
In addition, non-Vermont (i.e. foreign) entities seeking to do business in Vermont require:
A Certificate of Good Standing from your home state dated not older than 30 days. This must be in the form of a scan or digital
copy that is uploaded during the application process Your out-of-state office mailing address.
Once you have prepared the required information, you can create your Vermont entity or register your out-of-state business in
a few easy steps:
Log into the Online Business Service Center.
Click on “Online Services” on the main menu (left side) to open the drop-down menu.
Click on “Start or Register Your Business” or “Trade Name (DBA) Registration.”
Follow the online prompts and enter the required information.
Click “Submit” on the final page.
Look for an email in a few days with your Certificate of Incorporation.
Log In & Register Your Entity…. What happens next?
Once your online registration is completed, if the name is available, you will receive your Certificate of Incorporation by email within three to five business days. If the name conflicts with an existing name, or if the name is not available, you will be notified by email within two business days and given the opportunity to choose a different name. Every Vermont business must have a registered agent. This can be any person, 18 years or older, with a valid street address to receive notices and service of process on your behalf. This can be anyone, including your attorney, accountant, a neighbor, or even yourself as the business owner—but you must provide a valid Vermont street address .
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