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The power to do good, combined with the ability to make profits. CT's experts can guide you through the ins-and-outs of this exciting new business structure.
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We provide the services you need to form or convert to a Benefit Corporation:
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Yes, benefit corporations face additional compliance and governance obligations. Some states require a “benefit director” who ensures that the corporation meets its stated public purpose. Additionally, a benefit corporation must prepare a benefit report using a third-party standard to assess its performance regarding to its public purpose.
No. As of January 1, 2016, only 30 states and the District of Columbia allow you to incorporate as a benefit corporation: AR, AZ, CA, CO, CT, DC, DE, FL, HI, ID, IN, IL, LA, MA, MD, MN, MT, NE, NH, NJ, NY, NV, OR, PA, RI, SC, TN, UT, VA, VT, and WV. Idaho's benefit corporation law takes effect on July 1, 2015. Expect the number of states permitting benefit corporations to increase in coming years.