The map shows the states that have amended their business corporation laws to authorize corporations to elect a broader purpose than just financial profitability.
States in blue have authorized a form of corporation that has a triple bottom line purpose and seeks to have a positive impact on society and the environment in addition to being financially profitable. Although some states may use a different name, these corporations are usually referred to as benefit corporations.
States in orange have authorized a form of corporation that may elect to pursue a specific purpose beyond financial profitability but are not required to have a triple bottom line purpose. In effect, corporations in these states are required to have a “double bottom” line purpose. While some of the statutes may refer to them as benefit corporations, it is helpful to think of them under the name social purpose corporations to differentiate them from benefit corporations.
States in green have authorized both benefit corporations and social purpose corporations.
Legislative Guide – B Corps