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Frequent questions regarding non-profit corporations:

What is a nonprofit corporation?

Nonprofit corporations are created to serve a public purpose, not to make money. As a result, they receive special treatment under the law and may qualify for tax-exempt status. While they can turn a profit, that cannot be their primary goal, and no portion of it can benefit their members.

What compliance rules must I follow as a nonprofit corporation?

A Registered Agent and state annual reports are required for good standing. You must request tax exemption from the IRS, file federal annual reports, and prohibit certain activities to retain it. There may also be taxes from unrelated businesses. Consult your accountant and attorney to ensure you follow all requirements.

I strongly recommend CT as a reliable corporate compliance partner.
Walters-Morgan Construction, Inc.
Business compliance requires global expertise. Expect more.
Trust CT Corporation to navigate compliance anywhere you do business.
*State fees are mandatory fees imposed by the state. Price includes online discount automatically applied at checkout.
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