Delaware is known for having corporation-friendly tax law and developed case law, making it a favorite for entrepreneurs and investors. As of this week, it may become a hotspot for social enterprise as well.
- After passing through state house and senate, the bill was signed into law by Delaware Governor Jack Markell
- Delaware is the 19th state pass benefit corporation legislation
- The bill was introduced as Senate Bill #47 & passed unanimously through state assembly and house votes
- The bill goes in to effect August 1, 2013
- Delaware is home to over 1 million public corporations
- 50% of companies and over 60% of Fortune 500 corporations are registered in Delaware
- The states that have passed benefit corporation law now:
Delaware, California, New York, Rhode Island, Massachusetts, Pennsylvania, Vermont, New Jersey, Maryland, Virginia, Washington DC, South Carolina, Illinois, Arkansas, Louisiana, Colorado, Oregon, Nevada, Arizona, and Hawaii
- Today Marks a Tipping Point in the Evolution of Capitalism [B Corporation blog]
- Delaware ‘Public Benefit Corporation’ Lets Directors Serve Three Masters Instead of One [Forbes]
- B Corps Congratulate Delaware on Signing Benefit Corporation Legislation into Law [CSWire]
- How Delaware Thrives as a Corporate Tax Haven [New York Times]
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