Starting an Independent Production Company (Film & Television), in order to get grants, which is better Non-Profit or LLC?

Asked about 1 year ago - Aberdeen, OH

I'd like to get a grant for equipment and a building, but also pay employees.

Attorney answers (1)

  1. Nicholas Charles De Santis III

    Contributor Level 4

    1

    Lawyer agrees

    Answered . This is difficult to answer with the limited detail provided. That being said, it probably comes down to whether or not you wish to make distributions to the members. Ohio Non-Profits have a no distribution rule. The practical effect of this is your members (shareholders) will only be able to receive reimbursements for expenses and will not be able to receive a share of any profits.

    I hope this helps.

    The materials on this website are provided for informational purposes only and do not constitute legal advice.... more

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