What is a Nonbusiness Entity?
A “Nonbusiness entity” means any group (of two (2) or more individuals), corporation, association, firm, partnership, committee, club or other organization which: (1) Does not have as its principal purpose the conduct of business activities for profit; and (2) Received during the preceding calendar year contributions, gifts or membership fees, which in the aggregate exceeded ten percent (10%) of its total receipts for such year.
Related Questions
- If a domestic entity is terminated, cancelled, or dissolved or a foreign entity’s certificate of authority or registration is revoked, is there a deadline for reinstatement?
- If a foreign entity intends to or is already transacting business in Texas, what are the penalties for not registering with the Secretary of State?
- Can I, as a Mexican foreigner, purchase property within the restricted zone under a Mexican Corporation entity?
