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November 2010

NON-PROFIT ORGANIZATIONS

Sometimes individuals want to start a non-profit organization, but are afraid it takes too much work, or will cost too much money. Starting a non-profit doesn’t have to take a lot of time or cost a lot of money. The first step is hiring an attorney who can file the organization’s articles of incorporation with the state they are looking to create the non-profit in. After this step is accomplished, an EIN is obtained, a bank account is established, and a Form 1023 exemption application is filled out.

STATE NEXUS

Sounds strange, but it’s just a way of saying you have created a connection with a State. Those business connections can create taxable issues and those connections are easier to create than you may think. In a recent study, 95% of companies underestimated their nexus footprint.