A nonprofit corporation is one that is organized for charitable or benevolent purposes. These corporations include certain hospitals, universities, churches, and other religious organizations. A nonprofit entity does not have to be a nonprofit corporation, however. Nonprofit corporations do not have shareholders, but have members or a perpetual board of directors or board of trustees.
The proper form and necessary content of articles or certificates of incorporation for a nonprofit corporation depend largely on the requirements of the state nonprofit corporation act in the state of incorporation. Typically nonprofit corporations have no capital stock and therefore have members, not stockholders. Because federal tax-exempt status will be sought for most nonprofit corporations, the articles or certificate of incorporation must be carefully drafted to include specific language designed to ensure qualification for tax-exempt status.
Alabama Articles of Incorporation, Not for Profit Organization, with Tax Provisions
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How to fill out Articles Of Incorporation, Not For Profit Organization, With Tax Provisions?
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Preparing and filing your articles of organization is the first step in starting your limited liability company (LLC). Approval of this document secures your business name and creates the legal entity of the LLC.
Required documents: The state of Alabama requires businesses to file Articles of Incorporation as well as a Certificate of Name Reservation, if not previously filed.
Immediate Processing: You may acquire copies and certified copies online at .sos.alabama.gov. Click on Business Services (below the picture, Business Entity Record Copies.
Steps on How to Start Your LLC in Alabama Reserve Your LLC Name With the Alabama Secretary of State. ... Designate a Registered Agent. ... File a Certificate of Formation. ... Create an Operating Agreement. ... Request an IRS Employer Identification Number (EIN) ... Fulfill Ongoing Obligations.
Are Nonprofits Taxed? Nonprofit organizations are exempt from federal income taxes under subsection 501(c) of the Internal Revenue Service (IRS) tax code. A nonprofit organization is an entity that engages in activities for both public and private interest without pursuing the goal of commercial or monetary profit.
Alabama nonprofits do not need to obtain a state-level business license or permit. However, your nonprofit should check with your city and county clerk's office to determine whether there are any local requirements you must follow.
To start a corporation in Alabama, you must file a Certificate of Formation with the Alabama Secretary of State. The Certificate of Formation and required name reservation cost $228 to file ($236 online).
Nonprofit organizations, including charities, have no special exemption from Alabama sales and use taxes. However, there is a list of exempt AL nonprofit organizations listed under sections 40-23-31 and 40-23-83 of the Code of Alabama. But as a general rule, no, your nonprofit is not eligible for state tax exemption.