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As soon as you start to think about your business, an accountant can help you take the next steps. We can discuss your business's organization, tax purposes and operations, along with target pricing and profit margins.
The 1023-EZ application is a streamlined form used by smaller nonprofits to apply for tax-exempt status under 501(c)(3) of the Internal Revenue Code. It is designed to make the application process simpler and less time-consuming for organizations with annual gross receipts of $50,000 or less and assets of $250,000 or less.
Articles of Incorporation are legal documents that establish a nonprofit corporation and are filed with the State. They include information about the organization's purpose, structure and governance.
Bylaws are the rules and regulations that govern a nonprofit organization's internal affairs. They outline how the organization will operate and are typically adopted by the organization's Board of Directors. The Bylaws must be signed by the Board of Director's.
Yes, both Articles of Incorporation and Bylaws are required for nonprofit incorporation. The Articles of Incorporation must be filed with the State and specify the purpose, powers and dissolution clause of the organization. The Bylaws, on the other hand, specify how the organization will operate and do not need to be filed with the State.
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