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Costs of starting a new nonprofit in North Carolina Certificate of Incorporation: $60 + optional $100-200 expedite fee. Application for federal tax exemption or 501(c) tax-exempt status: $275 or $600 IRS fee.
A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of 501(c) nonprofit organizations in the United States.
Nonprofit corporations are regulated under Section 501(c) of the Internal Revenue Code. Unlike C corporations, the purpose of nonprofit corporations is not to make profits for the owners. Instead, nonprofits are formed for charitable, literary, scientific, religious, and other activities.
Under North Carolina law, organizations that meet the requirements of Section 501(c)(3) are also exempt from paying state corporate income tax.
Name Your Organization. ... Name Incorporators and Directors. ... Appoint a Registered Agent. ... File North Carolina Articles of Incorporation. ... Apply for an Employer Identification Number (EIN) ... Hold Organization Meeting and Establish Nonprofit Bylaws. ... Apply for Federal and NC State Tax Exemptions.