What steps need to be taken to form a nonprofit corporation?
Articles of incorporation must be filed with the proper state agency. These articles of incorporation must contain specific paragraphs in connection with the nature of the nonprofit activities. We will prepare and file the nonprofit Articles of Incorporation. A nonprofit corporation must apply for tax-exempt status with both federal (IRS Form 1023) and state authorities. We do not prepare IRS form 1023, but will provide the proper documents for your completion upon your request. A nonprofit corporation must follow certain corporate formalities, including the adoption of By-Laws. Many documents which will assist in complying with these formalities are contained in our Nonprofit Corporate Kit.
The first step is to file nonprofit articles of incorporation with the proper state agency. It is important that the articles contain the required clauses to make sure your articles will qualify for tax-exempt status. Business Filings Incorporated prepares and files nonprofit articles of incorporation. After the nonprofit articles are filed, tax-exempt status must be applied for at both the federal and state levels. To apply at the federal level, a timely filing of form 1023 must be made. To determine what form needs to be filed at the state level, contact the state department that deals with taxation. What purposes are valid for a nonprofit? To qualify for federal tax-exempt status under 501(c)(3) of the federal tax code, the nonprofit corporation must be organized and operate for some religious, charitable, educational, literary, or scientific purpose permitted under this section of the code. Nonprofit corporations may also be formed for other purposes pursuant to different sections
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