Tax Law

Nonprofits recognized as tax-exempt by the Internal Revenue Service (IRS) with annual incomes of more than $25,000 are required to submit financial and other information to the IRS annually using...

The United States has 75,187 private and public foundations. They provided $19.1 billion in grants in 2006 to charitable causes. Foundations are ruled mainly by federal Internal Revenue Service...

For an entity to receive a tax-exempt status by the Internal Revenue Service (IRS), you must comply with IRS regulations. The regulation of taxable and nontaxable entities is a complicated area,...

The laws that affect social clubs depend on how the club is organized. A very informal, unincorporated social club has no particular laws that apply to it specifically. Much more highly organized...

The Limited Liability Company, or LLC, is a very popular business entity. It combines the advantages of corporations with the advantages of a partnership, but because it's relatively new, not...

The Internal Revenue Service exempts certain kinds of organizations from income taxes, but it imposes specific requirements to maintain this preferential treatment. The 501(c)(3) status is the...

Title 26, Section 501(c) of the United States Internal Revenue Code (26 U.S.C. § 501(c)) allows certain types of organizations to be exempt from some federal taxes. Obtaining 501c status is a...

To become established as a nonprofit organization, you must complete the appropriate paperwork to secure status as a 501(c)(3) organization. You will file articles of incorporation with your...

Tax-exempt status is a sometimes misunderstood, and many times misused, term given to a person or organization which does not pay taxes to any government entity. While the use of this exemption...

Section 501(c) of the Internal Revenue Code provides full tax-exempt status to certain qualifying religious, educational and charitable organizations, as well as to those who conduct such other...

If you fall within a certain criteria, you may be able to benefit from some of the available sales tax exemptions. Farmers and religious organizations, for example, can benefit from the sales tax...

If you are in the farming/agricultural business, there are tax exemptions available to you. These exemptions provide tax breaks for personal property, equipment used in farming, the upkeep of your...