Hello, I'm thinking about starting my own social entrepreneurship venture
incorporating fashion and social issues. Would an L3C be the way to go or
should I register another way? I plan to just run the business myself, start
out slow and possibly have interns help. Nothing huge right now. I would love
to have the business be based out of Chicago, (where I'm from) but I am
currently living in another state on assignment for another 1-2 years before
I can move back. I frequent Chicago all the time so it's as if I never left.
Is this even realistic? Thanks for any help you can give. It's vague but I'm
just wondering where I can begin or where I can go to get more answers.
Marc J. Lane | Window Shopper |
11/5/2012 - 7:55 pm
I practice law in Chicago and drafted Illinos' L3C law, and I'll be happy to help you.
(Please note that Community members may not include personally identifiable information, such as phone numbers, in posts. )
We also have a section of our Web site with a collection of excellent
resources covering all aspects of the L3C:
http://www.intersectorl3c.com/l3c_home.html
I also recommend that you download our first paper Who is the L3C
Entrepreneur? It's not a technical paper but rather it's the stories of folks
who were and are in the same situation you find yourself. Our update to this
paper will be out in the next week.
You can form a company in any state regardless of where you are, but you want
to consider your options carefully as depending on where it was formed and
where it then is engaging in business there may be tax consequences or
additional filings required.
jtowbin | Community Moderator |
10/30/2012 - 8:58 am
Hi, Check out the resources available in our Choose Your Business Structure section which included information about different types of business structures to help you find the one that might be best suited for your business. Another great resource is SCORE, one of SBA's resource partners. SCORE is a nonprofit association comprised of thousands of volunteer business counselors throughout the country. They are trained to serve as advisors and mentors to aspiring entrepreneurs and business owners (at no cost to you). You can find your local office or set up an online meeting to chat with someone about your questions. Good Luck
Marc J. Lane | Window Shopper | 11/5/2012 - 7:55 pm
rzwetsch | Window Shopper | 11/5/2012 - 12:50 pm
We also have a section of our Web site with a collection of excellent
resources covering all aspects of the L3C:
http://www.intersectorl3c.com/l3c_home.html
I also recommend that you download our first paper Who is the L3C
Entrepreneur? It's not a technical paper but rather it's the stories of folks
who were and are in the same situation you find yourself. Our update to this
paper will be out in the next week.
Corporate Attorney | Window Shopper | 10/30/2012 - 9:07 pm
to consider your options carefully as depending on where it was formed and
where it then is engaging in business there may be tax consequences or
additional filings required.
SeattleCPA | Window Shopper | 10/30/2012 - 4:28 pm
jtowbin | Community Moderator | 10/30/2012 - 8:58 am
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