Corporations, trusts, limited liability companies, and unincorporated associations that qualify for tax-exempt status under Internal Revenue Code (IRC) 501(a) as described in Publication 557 (Tax-Exempt Status for Your Organization) all classify as Non-profit organizations.
Non-profit organizations include but are not limited to the following list: public charities, private foundations, educational organizations, employee associations, veteran’s organizations, business leagues, state-chartered credit unions, child care organizations, and teachers’ retirement fund associations.
Note: Sole proprietors and partnerships cannot be considered for tax-exempt status. For-profit organizations cannot be considered for tax-exempt status.
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© einwizard.com 2022
A subsidiary of Weiss 2.0