Nonprofit organizations may have tax obligations
May 9, 2014
Generally, an organization will not owe taxes if two things are true: * It has registered as an exempt nonprofit organization with the IRS, and * It has no business income from activities unrelated to its exempt purpose. Registration is quite straightforward. The IRS grants exempt status to groups organized for charitable or mutual benefit purposes. You must submit your...
Tags: nonprofit tax obligations
Category: Taxes