South Carolina NP-501c3 Attachment

State:
South Carolina
Control #:
SC-SKU-0898
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NP-501c3 Attachment

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FAQ

Visit the Secretary of State's website at .sos.sc.gov to access the Business Entities Online filing application. You can also download the Articles of Incorporation form and submit it by mail. The fee to incorporate as a nonprofit corporation is $25.

Corporate bylaws are legally required in South Carolina. ing to S.C. Code § 33-2-105, corporate bylaws are legally required for South Carolina corporations, and shall be adopted by the incorporators or the corporation's board of directors at the first organizational meeting.

(a) Unless prohibited or limited by the articles or bylaws, any action that may be taken at any annual, regular, or special meeting of members may be taken without a meeting if the corporation delivers a written or electronic ballot to every member entitled to vote on the matter.

How to Start a Nonprofit in South Carolina Name Your Organization.Recruit Incorporators and Initial Directors.Appoint a Registered Agent.Prepare and File Articles of Incorporation.File Initial Report.Obtain an Employer Identification Number (EIN)Store Nonprofit Records.Establish Initial Governing Documents and Policies.

In South Carolina, you must have a minimum of three directors. Most nonprofits will have more depending on the size and structure of the organization. South Carolina also requires that board members be naturalized persons. There are no residency or membership requirements in the state.

The Internal Revenue Service (IRS) requires that all nonprofits registered at the federal level maintain a minimum of three members on the board of directors. At the state level, requirements range from 1 to 5 board members.

Certain nonprofit organizations in South Carolina are exempt from Sales & Use Tax on items sold by the organizations for charitable purposes. The exemption applies only to items purchased for resale and does NOT apply to items purchased by an organization for its own use.

Exempt Purposes - Internal Revenue Code Section 501(c)(3) The exempt purposes set forth in section 501(c)(3) are charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, and preventing cruelty to children or animals.

More info

Note. Consulting with an accountant or a tax professional before organizing a for-profit business as a Virginia nonstock corporation is recommended. The cost to file for 501c3 tax exemptions depends on the IRS form you use to file.You have two options: IRS Form 1023-EZ or IRS Form 1023. Cost, time, and paperwork required to start a nonprofit. Learn how to start a nonprofit in Virginia with our free step-by-step guide. Complete and attach this schedule to Form 990EZ. These include: • Organizations that are described in section 501(c)(3) and. If your corporation is a public benefit or religious corporation, you must attach that letter to this Nonprofit Certificate of Dissolution (see instructions). Instructions: • Complete and include this form with your paper submission. NP-20. State Form 51062.

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South Carolina NP-501c3 Attachment