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.
South Carolina 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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How to Start a Nonprofit in South Carolina | 13-Step Guide 13 Steps to Starting a Nonprofit in South Carolina. ... Name Your Organization. ... Incorporators and Directors. ... Appoint a Registered Agent. ... File Articles of Incorporation. ... Get Your Employer Identification Number (EIN) ... File Initial Report. ... Establish Bylaws.
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.
File Articles of Incorporation This paperwork can be filed online or by mail. If you decide to mail this application, you will need to include two copies of the form and a self-addressed stamped envelope. You will also need a cheque payable to the South Carolina Secretary of State for the $25 filing fee.
Costs of starting a new nonprofit in South Carolina These are the filing fees for South Carolina nonprofits: Filing Articles of Incorporation: $25. Applying for federal income tax exemption or 501(c): $275 or $600 IRS fee. South Carolina charitable registration: $50 (or $0 if filing exemption)
CL-1 The Initial Annual Report of Corporations. This form is filed with the South Carolina Department of Revenue. $25.00.
You'll want to identify three, unrelated individuals to meet IRS requirements. You will also want to be aware of any age or residency requirements. South Carolina director requirements: Number: minimum 3.
