Does anyone know what it takes to become a no-profit in california. I am interested in starting a tlca chapter, but I am not familiar with getting the tax and nonprofit stuff together. Any help would be great.
Non profit setup (1 Viewer)
- Thread starter landcruiser7240
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Western Representative: Ross Woody,
707-557-9299, WesternRep@tlca.org
Ross is the TLCA western Rep and thats part of what he does is help new clubs get starte3d. Contract Ross and he should be able to help you.
707-557-9299, WesternRep@tlca.org
Ross is the TLCA western Rep and thats part of what he does is help new clubs get starte3d. Contract Ross and he should be able to help you.
I can help
Not for Profit status is an IRS thing, and the state of CA will recognize it.
First thing you need to do is get a tax id number, which you can do on line at the IRS website. After just file a CA informational return annually so they get your $35 fee. You don't need to file a federal tax return until you have something over $20,000 of income per year. You can get all the details off the IRS or CA websites.
Not for Profit status is an IRS thing, and the state of CA will recognize it.
First thing you need to do is get a tax id number, which you can do on line at the IRS website. After just file a CA informational return annually so they get your $35 fee. You don't need to file a federal tax return until you have something over $20,000 of income per year. You can get all the details off the IRS or CA websites.
- Thread starter
- #4
I emailer Ross about it. I will also check IRS, I just hate trying to understand irs crap.
understand
just get a tax id number and start a club, worry about it when you make $20k in one year... the irs isn't out to get us small guys...
casey
just get a tax id number and start a club, worry about it when you make $20k in one year... the irs isn't out to get us small guys...
casey
incorporating
there are various website available where you can get this done for around $150.
there are various website available where you can get this done for around $150.
I finally got around to looking up the IRS forms that we would need to become a non-profit. From what I can tell, it would be under Internal Revenue Code 501 (c)(7) for social clubs, requiring filing a Form 1024 Application for Exemption and a Form 8718 User Fee of $300. The seems a little steep for a non-profit. Am I on the right track or did miss the cheap route? Between that and incorporating I don't know if we will be able to pull that off with the limited number of members at this time. Any advice from people that have done this is appreciated.
Don
Don
http://www.irs.gov/charities/nonprofits/article/0,,id=96189,00.html
http://www.irs.gov/charities/article/0,,id=96122,00.html
These two will give you what you need. Yes you need to do those two forms and pay the fee. However, I wouldn't worry about it until you need to file a tax return, that means $20,000 of income. At that point the fee becomes affordable.
It's a car club, and the IRS understands that. They are looking for the folks that owe taxes.
casey
http://www.irs.gov/charities/article/0,,id=96122,00.html
These two will give you what you need. Yes you need to do those two forms and pay the fee. However, I wouldn't worry about it until you need to file a tax return, that means $20,000 of income. At that point the fee becomes affordable.
It's a car club, and the IRS understands that. They are looking for the folks that owe taxes.
casey