By far, the most frequently asked question our firm receives is: how do I apply for the Nonprofit, tax-exemption 501 (c) 3 status?
Here are the step-by-step instructions for state of Texas entities:
- To qualify as a non-profit corporation, fill out form 201 with the Texas Secretary of State. If you wish to remain an unincorporated nonprofit association, do not fill out Form 201. For more details on the differences between the two statuses, visit the Secretary of State’s FAQ’s
- Create a set of bylaws. A lawyer can help with this, or obtain a template and revise it according to your entitiy’sneeds.
- Obtain a Federal Identification Number (FEIN) with the IRS. Go here: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online.
- Fill out the IRS Form 1023 or 1023-EZ (for small organizations with gross receipts of $50,000 and less and assets valued at less than $250,000).
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