This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Bylaws Draft With Nonprofit In Houston
Category:
State:
Multi-State
City:
Houston
Control #:
US-00444
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
501(c)(3), (4), (8), (10) or (19) organizations are exempt from Texas franchise tax and sales tax. A federal tax exemption only applies to the specific organization to which it is granted.
To receive a 501(c)(3) tax exemption, federal requirements stipulate that all members of your board of directors be unrelated. Texas requires only two officers appointed for every nonprofit: a president and a secretary. You may add other officers as preferred or needed while establishing your nonprofit.
They are necessary. Your nonprofit does not need to file bylaws with the Texas Secretary of State, but they are required to obtain tax-exempt status with the IRS.
The Texas Business Organizations Code requires a nonprofit corporation to have at least three directors, one president, and one secretary. The same person cannot be both the president and secretary. Officers and directors must be natural persons, but may be known by other titles.
Corporations are legally required to adopt bylaws in Texas – Section 21.057 of the Texas Business Organizations Code states that the board of directors of a corporation shall adopt initial bylaws. So, if your company gets caught in a legal battle without bylaws, you could face some serious legal consequences.
Mail to IRS EO Classification, Mail Code 4910DAL, 1100 Commerce St., Dallas, TX 75242-1198 Fax to 214-413-5415, or Email to eoclass@irs. The IRS takes all complaints seriously and scrutinizes all referrals. For more information, go to: /IRS.
Texas does require bylaws for all nonprofit corporations that must be adopted at the first organizational meeting of the organization's board of directors.
Can I form a nonprofit LLC in Texas? The Texas Business Organizations Code (BOC) does not recognize the term "nonprofit LLC" as describing a specific type of entity, but the BOC does allow for the formation of an LLC with a nonprofit purpose.