How to Form a Nonprofit Corporation in California

by Mancuso, Anthony

• ISBN13: 9780873379441
• ISBN10: 0873379446
• Edition: 10th
• Format: Paperback
• Copyright: 2004-01-01
• Publisher: Nolo

Summary

Everyone from artists and environmentalists to educators and social workers forms nonprofits these days. And it's no surprise--a group can step into the limelight, save money, become eligible for grants and even get better postal rates as a nonprofit corporation. This Nolo bestseller guides readers through the steps necessary to obtain Federal 501(c)(3) status in order to qualify for: - federal and state income tax exemptions- tax deductible contributions from donors- public and private funding- limited personal liability for directors, officers and members of the nonprofit.The overhauled new edition now includes a CD-ROM brimming with forms, such as the latest federal tax exemption and state FTB tax exemption application forms. The book also earmarks online sources of nonprofit tax and legal information.

Author Biography

Attorney Anthony Mancuso is a corporations expert

Table of Contents

Introduction
Is Nonprofit Incorporation Right for You?
Is Your Group a Nonprofit That Can Use This Book?	p. 2
Benefits of the Nonprofit Corporation	p. 5
The Disadvantages of Going Nonprofit	p. 10
How Nonprofits Raise, Spend, and Make Money	p. 13
Your Path to Nonprofit Status	p. 15
Incorporating in Another State--Don't Fall for it	p. 16
Legal Rights and Duties of Incorporators, Directors, Officers, Employees, and Members
Incorporators and Their Role as Promoters	p. 4
Directors	p. 5
Officers	p. 20
Employees	p. 22
Membership Nonprofits	p. 23
Requirements for Section 501(c)(3) Tax Exemption
Section 501(C)(3) Organizational Test	p. 2
Valid Purposes Under Section 501(C)(3)	p. 3
Other Requirements for 501(C)(3) Groups	p. 10
Information for Specific Questions About Your Group's Activities	p. 18
Public Charities and Private Foundations
The Importance of Public Charity Status	p. 2
How to Qualify for Public Charity Status	p. 3
Private Foundations	p. 18
Other Benefits and Requirements
Federal and State Tax Deductions for Contributions	p. 2
Federal Estate and Gift Tax Exemptions	p. 4
Federal Unrelated Business Income Tax	p. 5
California Unrelated Business Income Tax	p. 6
California Nonprofit Tax Exemption	p. 7
California Attorney General Reporting Requirements	p. 8
California Welfare Exemption	p. 8
Other California Tax Exemptions	p. 16
State Solicitation Laws and Requirements	p. 17
Choose a Name and File Your Articles of Incorporation
Choose a Corporate Name	p. 3
Practical Suggestions for Selecting a Name	p. 6
Check Name Availability	p. 9
Reserve Your Corporate Name	p. 11
Perform Your Own Name Search	p. 12
Prepare Articles of Incorporation	p. 16
File Your Articles	p. 29
Bylaws
Choose a Membership or Nonmembership Structure	p. 2
Bylaws for a Public Benefit Nonprofit Corporation	p. 3
Membership Bylaw Provisions for a Public Benefit Corporation	p. 13
Bylaws for a Religious Corporation	p. 20
Membership Bylaw Provisions for a Religious Corporation	p. 30
Prepare Your State Tax Exemption
The State Tax Exemption Application: Form FTB 3500	p. 2
Instructions for Completing Form 3500	p. 5
Sign and Mail Your Exemption Application	p. 18
Apply for Your Federal 501(c)(3) Tax Exemption
Getting Started	p. 2
Do You Need to File Form 1023?	p. 7
Prepare Your Tax Exemption Application	p. 7
Form 872-C	p. 34
User Fee Form 8718	p. 34
Sign and Mail Your Application to the Irs	p. 35
What to Expect from the Irs	p. 36
The Federal Determination Letter	p. 36
Final Steps in Organizing Your Nonprofit
Mail Irs Letter to Franchise Tax Board	p. 2
Set Up a Corporate Records Book	p. 2
Prepare Offer to Transfer Assets from an Existing Business or Organization to Your Nonprofit	p. 4
Prepare Minutes of Your First Board of Directors' Meeting	p. 9
Complying with Bulk Sales Law	p. 17
Prepare a Bill of Sale for Assets	p. 18
Prepare Assignments of Leases and Deeds	p. 21
File Final Papers for the Prior Organization	p. 22
Notify Others of Your Incorporation	p. 22
Apply for a Federal Nonprofit Mailing Permit	p. 22
Apply for Your Property Tax Exemption	p. 23
File a Domestic Corporation Statement	p. 25
File an Initial Report with the Attorney General	p. 25
Issue Membership Certificates	p. 26
File Your Articles with the County Recorder	p. 27
Register with the Fair Political Practices Commission	p. 27
After Your Corporation Is Organized
Piercing the Corporate Veil--if You Want to Be Treated Like a Corporation, It's Best to Act Like One	p. 2
Federal Corporate Tax Returns	p. 3
California Corporate Tax Returns and Reports	p. 6
Federal and State Corporate Employment Taxes	p. 8
Sales Tax Forms and Exemption from Sales Tax	p. 12
Licenses and Permits	p. 13
Workers' Compensation	p. 14
Private Insurance Coverage	p. 14
Dissolving a Nonprofit Corporation	p. 15
Lawyers, Legal Research, and Accountants
Lawyers	p. 2
Legal Research	p. 3
Accountants and Tax Advice	p. 4
How to Use the CD-ROM
Forms and Publications on CD-ROM
Information and Tear-Out Forms
Index
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