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"Beneficial purpose" means seeking to have a bona fide positive effect or to reduce one or more bona fide negative effects of an artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious, scientific, or technological nature for the benefit of persons, entities, communities, or interests other than shareholders in their capacity as shareholders.Īn existing corporation can become a benefit corporation by amending its articles of incorporation. A benefit corporation is defined as a corporation that sets forth in its articles of incorporation one or more beneficial purposes among the purposes for which the corporation is formed. Senate Bill 21, effective March 18, 2021, amends the Ohio corporation law to authorize benefit corporations. The new LLC law will now govern all domestic and foreign LLCs on February 11, 2022.

House Bill 110 delays the effective date of the Ohio Revised Limited Liability Company Act from Januto February 11, 2022. The previous LLC Act is repealed on the effective date. The Revised Act governs all LLCs formed or registered to do business in Ohio on or after Februas well as all LLCs formed or registered before that date. House Bill 276, effective February 11, 2022, enacts the Ohio Revised Limited Liability Company Act. CT Corporation has a team of attorneys and contacts with state legislatures that monitors and responds to changes in the law. And our Registered Agent Plus service helps you comply with the annual report filing requirement common in many states. CT Corporation ensures proper handling of your documents, so your business runs free of surprises. Although it’s a requirement to appoint a Registered Agent, you have a choice over who to use. A reliable professional Registered Agent gives you peace of mind that you won’t miss a critical filing and endanger your business’ good standing. The right Registered Agent is a partner in your success. However, doing business in Ohio requires compliance with many federal, state, and local requirements. Small businesses account for 99% of businesses in the state, many of which are minority-owned. Thinking of doing business in the Buckeye State? Ohio is a very favorable state for entrepreneurs thanks to its affordability, low cost of living, and low property and unemployment insurance rates. The appointment and maintenance of an in-state registered agent is required