Whether you wish to establish a non-profit or a for-profit corporation, a business lawyer can help you get started on the right foot. For those considering creating a non-profit organization, you likely have a number of questions about what is required from a legal standpoint. This is understandable. The process for starting a company of any kind can be complicated but it’s important to make sure each phase is completed correctly. Otherwise, legal and tax issues may develop. A business lawyer can assist you from the very beginning. In establishing your new company our seasoned business lawyer can also advise you on options that offer the most attractive tax advantages.
What is considered a non-profit corporation?
A non-profit corporation is an organization that an individual or group establishes for the purpose of providing charity, education, religion, or other not for profit goal. In addition:
- A non-profit corporation is not required to pay state or federal taxes.
- A non-profit corporation is often referred to as a “501(c)(3)” organization because this refers to the Internal Revenue Code for non-profits’ tax-exempt status.
Do I need to hire a business lawyer to create a non-profit corporation?
A non-profit business lawyer understands the different issues that a non-profit faces as compared to a for-profit company. Whether you simply need guidance insofar as understanding what paperwork must be filed, the information it must include, and where it needs to be submitted, a non-profit business lawyer can assist you. A lawyer can also assist you when it’s time to file your non-profit taxes or if your organization needs to pursue or defend from litigation.
How can a business lawyer help me create a non-profit corporation?
A non-profit business lawyer can assist you with the legal aspects of creating a non-profit corporation. Law firms offer the following legal services:
- Provide information about as well as prepare, complete, and submit all required legal documents for the formation of a non-profit corporation.
- Provide legal guidance for the preparation and formation of the non-profit corporation.
- Provide legal guidance for how to gain tax-exempt status and which conditions you must meet in order to do so.
- Provide an understanding of tax obligations and how to minimize them.
- Provide information about the various types of non-profit corporations to help you make an informed decision about which may best help you meet your goals.
- Provide an understanding of how to form a board of directors, appoint corporate officers, and more.
Contact a Law Firm Before You Get Started Forming a Non-Profit Corporation
Before you get started filing the legal paperwork for forming a non-profit corporation, contact a law firm. A business lawyer can save you time, aggravation, and money. By making sure the process goes smoothly and that all legal obligations are met, you can feel confident that the risk of even long term issues is significantly lessened. In addition, they can offer tax savings legal advice.
Thanks to The Law Office of Daniel J. Wright for their insight into business law and non-profit corporations.