Alaska 501c3 Corporations: Tax Exempt Organizations Non Profit
Alaska 501c3 Corporations: Non Profit Incorporation
Incorporating your charitable organization [501c3 Corporations ] in compliance with Alaska Statutes is the first step to qualifying for the special liability protection and other key benefits available to recognized non profit corporations within the state. This will require adhering to all Alaska Statutes and corporation including that no part of the corporation's net earnings will go towards any member or director of the corporation.
Forming a Non Profit Organization in Alaska
The state of Alaska requires non profit corporations to file articles of incorporation with the Secretary of State and paying an initial filing fee of $30-$100. The document must also include the specific language of the IRS to obtain the tax-exempt status. Under chapter 20 of the Alaska Nonprofit Act, the articles of incorporation must contain certain information including the name of the corporation, its purpose, the name and address of the initial incorporator(s) and the name and street address of the registered agent. Other formation procedures will require registering with the State's Office, apply for your Employer ID Number (EIN) and request 501(c) (3) tax-exempt status from the IRS.
Advantages of Non Profit Tax Exempt Incorporation
Non profits that qualify for 501(c) (3) or tax-exempt status in Alaska enjoy many benefits and privileges including:
- Exempt from paying federal and state income taxes
- Grant eligibility which is permission to obtain grants from government agencies and private organizations
- Limited liability protection for members and/or directors
- Ability to apply for reduced nonprofit mailing rates
- Possible Tax exemption for donors