After a recognized type of legal entity has been formed at the state level, it is customary for the nonprofit organization to seek tax exempt status with respect to its income tax obligations. That is done typically by applying to the Internal Revenue Service (IRS), although statutory exemptions exist for limited types of nonprofit organizations. The IRS, after reviewing the application to ensure the organization meets the conditions to be recognized as a tax exempt organization (such as the purpose, limitations on spending, and internal safeguards for a charity), may issue an authorization letter to the nonprofit granting it tax exempt status for income tax payment, filing, and deductibility purposes. The exemption does not apply to other Federal taxes such as employment taxes. Additionally, a tax-exempt organization must pay federal tax on income that is unrelated to their exempt purpose. Failure to maintain operations in conformity to the laws may result in an organization losing its tax exempt status. Individual states and localities offer nonprofits exemptions from other taxes such as sales tax or property tax. Federal tax-exempt status does not guarantee exemption from state and local taxes, and vice versa. These exemptions generally have separate application processes and their requirements may differ from the IRS requirements. Furthermore, even a tax exempt organization may be required to file annual financial reports (IRS Form 990) at the state and federal level. A tax exempt organization's 990 forms are required to be made available for public scrutiny.
Other articles related to "state, united states, states":
... See also Kent State University Airport ... It was named a top-ten fashion school in the United States by Runway Magazine ... centers for ethnomusicology in the United States ...
... The American Civil War (1861–65), in the United States often referred to as simply the Civil War and sometimes called the "War Between the States", was a civil war fought over the secession of ... Eleven southern slave states declared their secession from the United States and formed the Confederate States of America ("the Confederacy") the other 25 states ... After four years of warfare, mostly within the Southern states, the Confederacy surrendered and slavery was abolished everywhere in the nation ...
... The Seventieth United States Congress was a meeting of the legislative branch of the United States federal government, consisting of the United States Senate and the United States House of Representatives ... of Representatives was based on the Thirteenth Decennial Census of the United States in 1910 ...
1836 – Samuel Colt is granted a United States patent for the Colt revolver ... Rhodes Revels, a Republican from Mississippi, is sworn into the United States Senate, becoming the first African American ever to sit in the U.S ... Morgan incorporates the United States Steel Corporation ...
... The movement spread quickly through the United States and to other English-speaking countries such as Britain, Ireland, South Africa and Australia ... of Scientology of California was granted tax-exempt status by the United States Internal Revenue Service (IRS), and so, for a time, were other local churches ... The United States Food and Drug Administration (FDA) began an investigation concerning the claims the Church of Scientology made in connection with its E-meters ...
Famous quotes related to united states:
“And hereby hangs a moral highly applicable to our own trustee-ridden universities, if to nothing else. If we really wanted liberty of speech and thought, we could probably get itSpain fifty years ago certainly had a longer tradition of despotism than has the United Statesbut do we want it? In these years we will see.”
—John Dos Passos (18961970)
“Nova Scotia, New Brunswick, and Canada are the horns, the head, the neck, the shins, and the hoof of the ox, and the United States are the ribs, the sirloin, the kidneys, and the rest of the body.”
—William Cobbett (17621835)
“Some time ago a publisher told me that there are four kinds of books that seldom, if ever, lose money in the United Statesfirst, murder stories; secondly, novels in which the heroine is forcibly overcome by the hero; thirdly, volumes on spiritualism, occultism and other such claptrap, and fourthly, books on Lincoln.”
—H.L. (Henry Lewis)
“What lies behind facts like these: that so recently one could not have said Scott was not perfect without earning at least sorrowful disapproval; that a year after the Gang of Four were perfect, they were villains; that in the fifties in the United States a nothing-man called McCarthy was able to intimidate and terrorise sane and sensible people, but that in the sixties young people summoned before similar committees simply laughed.”
—Doris Lessing (b. 1919)
“Why doesnt the United States take over the monarchy and unite with England? England does have important assets. Naturally the longer you wait, the more they will dwindle. At least you could use it for a summer resort instead of Maine.”
—W.H. (Wystan Hugh)