How Does A Nonprofit Obtain Tax Exemption Status?

TAX EXEMPTION STATUS The major benefit of charitable nonprofit organizations is that they may qualify for exemption from Federal and State income tax.  In addition, corporate donors may deduct contributions to organizations that are exempt under section 501(c)(3) of the Internal Revenue Code from their personal Federal income tax.  A tax professional must be retained by the nonprofit because of the complexities involved. The process for obtaining tax-exempt status is separate from the incorporation process.    FEDERAL INCOME TAX EXEMPTION Section 501(c)(3) of the Internal Revenue Code, which is codified in Title 26 of the United States Code, states that the [...]

How Does A Nonprofit Obtain Tax Exemption Status?2020-03-13T21:55:47-07:00

Form A Nonprofit Organization

WHAT IS THE PROCESS TO FORM A NONPROFIT ORGANIZATION? There are many steps involved to form a nonprofit organization.  In California, a Nonprofit Public Benefit Corporation may be formed by completing certain steps.  These include: Name Availability ($10.00 Fee): It is best to check the availability of a particular name for the nonprofit corporation and reserve the name with the Secretary of State.  Articles of Incorporation ($30.00 Fee): The Articles of Incorporation is the formal document that legally creates the corporation and must be filed with the Secretary of State.  The Articles must specify the charitable purpose of the organization, [...]

Form A Nonprofit Organization2020-03-13T21:40:28-07:00