How to Convert a California Nonprofit Mutual Benefit Corporations to a For-Profit Corporation under Proposition 64 June 6, 2018 Ben Condon Banking, Finance & Real Estate 0 Comments Law Prior to 2018 - Non-Profit MBCs Ruled Medicinal cannabis businesses in California generally operated as nonprofit mutual benefit corporations prior to 2018. Although these medicinal cannabis businesses formally are incorporated as nonprofit mutual benefit corporations, they do not meet the requirements for income tax exemption described… Read More→