New York 501c3 Corporations: Tax Exempt Organizations Non Profit
New York Tax Exempt Organizations Non Profit
The initial process for incorporating a non profit corporation [tax exempt organizations-non profit ] in New York is similar to the process of forming a regular corporation. However, non profit organizations must undergo further steps of registration to secure their status as a non profit organization.
Form a Non Profit Organization in New York
Forming a non profit organization in New York will require several filing procedures including:
- Choosing a Name unique from any other New York registered business name on file. You can check for its availability with the Corporation and Business Entity Database
- Prepare Articles of Incorporation including stating the corporation is a Type B corporation under New York law
- File articles of incorporation with the Department of State's Division of Corporations and pay an initial filing fee of $75
- Appoint a Board of Directors
- Draft Bylaws and Policies
- Hold first initial organizational meeting
- Apply for Employer ID Number (EIN)
- Apply for 501(c) (3) tax-exempt status from the IRS
- Register with the State's Office
When forming a non profit organization, applicants must be fully aware that the organization is prohibited from paying profits to its directors or principals. It is best to obtain the services of a lawyer examine the relevant statutes and regulations before submitting any applications.
