What does the B stand for in B Corp?

Certified B Corporation
Many people use the terms “B Corp” and “Benefit Corporation” interchangeably. B Corp (short for Certified B Corporation) is the term used for any for-profit entity that is certified by the nonprofit B Lab as voluntarily meeting higher standards of transparency, accountability, and performance.

What is B Corp example?

Examples of large companies that have achieved B Corp Certification include Laureate, KeHE, and Natura. As a large company, your path to Certification will vary based on your size and complexity.

What is the difference between a C Corp and a B Corp?

A benefit corporation, sometimes called a B corp, is a for-profit corporation recognized by a majority of U.S. states. B corps are different from C corps in purpose, accountability, and transparency, but aren’t different in how they’re taxed. B corps are driven by both mission and profit.

How many B Corps are there in the US?

The majority of the 3,500+ B Corps are small businesses.

Is Starbucks AB Corp?

It would need to meet the standards required by the non-profit company B Lab, which officially hands out the B Corp designations. But Starbucks would not be the first publicly traded firm in this growing movement. And some big public companies have subsidiaries which are B Corps.

Is Starbucks a B Corp?

Is Nike a certified B Corporation?

Well, there’s a difference between Nike using recycled materials to create its attire and Nike becoming a Certified B Corporation or Benefit Corporation. Namely, in the second case the company is held to higher standards of accountability and transparency.

Can a B Corp be an S Corp?

Are they taxed differently? Benefit corporations are not tax-exempt, like non-profits, because they are still for-profit entities. A benefit corporation will still be taxed as an S or C Corp, or alternative pass-through entity where applicable. Benefit corporation status is first and foremost a legal status.

How are B Corps taxed?

If you are a B-Corporation by act of legislation, then you would be taxed as a C-Corporation or S-Corporation. If you are a sole-proprietorship, with a B-Corp certification, you would remain being taxed as a sole-proprietorship. If you are an L3C, the taxing rules remain the same as with a regular LLC.