QUESTION

I am interested in knowing if I can form a Non-profit, LLC in New York State. It will be educational in nature.

Asked on Feb 23rd, 2012 on Business Law - New York
More details to this question:
I also want it to have a 501 (c)(3) status.
Report Abuse

1 ANSWER

Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
Reviews not shown
1 Award
As a general matter, an LLC is not the preferred vehicle for a non-profit entity, because an LLC, by definition, has "members" who are effectively partners; a non-profit may not have any profit-participating owners. In New York, the vehicle of choice is a corporation organized under the New York Not For Profit Corporation Law. Your attorney can assist you in drafting the necessary documents and applying for an IRS determination letter. If you need assistance in doing so, please contact our office.
Answered on Feb 23rd, 2012 at 11:06 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters