Tax Exempt Status of a Nonprofit Corporation


	Tax Exempt Status of a Nonprofit Corporation

Elusen

7-10-2008 9:03 AM

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tags:

incorporation, nonprofit, charity

Elusen says:

Sound advice on the tax exempt status of a nonprofit corporation

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/93975dc8-d59c-4929-98bc-6ed55a6c4ff0/DFDF8B59-0B0A-4000-AF9C-ACD88DFF9A73/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://eluris.typepad.com/knowing_the_law/2008/07/considering-the.html" href="http://eluris.typepad.com/knowing_the_law/2008/07/considering-the.html" style="font-size: 11px;">eluris.typepad.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://eluris.typepad.com/knowing_the_law/2008/07/considering-the.html"><H3 class="entry-header"><A href="http://eluris.typepad.com/knowing_the_law/2008/07/considering-the.html">Considering the Nonprofit Form of Business</A></H3></blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content8.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://eluris.typepad.com/knowing_the_law/2008/07/tax-exempt-stat.html" href="http://eluris.typepad.com/knowing_the_law/2008/07/tax-exempt-stat.html" style="font-size: 11px;">eluris.typepad.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://eluris.typepad.com/knowing_the_law/2008/07/tax-exempt-stat.html"><H3 class="entry-header">Tax Exempt Status of a Nonprofit Corporation </H3></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://eluris.typepad.com/knowing_the_law/2008/07/tax-exempt-stat.html"><P>One of the major advantages of structuring your business as a nonprofit corporation is that it will enable you to qualify for tax exempt status for the corporation.  After <A href="http://www.mycorporation.com/?kbid=3212">incorporation</A>, you still need to apply with the IRS for a qualification letter showing it is tax exempt.  This can take some time.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://eluris.typepad.com/knowing_the_law/2008/07/tax-exempt-stat.html"><P>Tax exempt status can provide an extraordinary level of additional freedom to a business enterprise, without the burden of paying taxes.  It is one of the primary benefits to consider as you decide upon the <A href="http://www.legalzoom.com/jump.asp?iRefer=3324&sURL=/business-formations/business-formations.html">type of business entity you create</A>.  Then you can focus on planning and executing on the <A href="http://www.elusen.com/services.htm">core strategies toward fulfilling your mission</A>. </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/DFDF8B59-0B0A-4000-AF9C-ACD88DFF9A73/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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