Pg 56

Question 1

What always comes first in a benefit corporation?

Answer 1

The goal of maximizing the financial gain for the corporation’s shareholders. Charitable purposes are allowed, but the shareholders must always come first.

Question 2

If a corporation elects to become a benefit corporation, does that give the corporation a tax benefit?

Answer 2

No, it is treated like any other corporation. By default it is a C corporation unless it qualifies for S corporation tax treatment and elects for it.