New York 501c3 Corporations: Tax Exempt Organizations Non profit

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New York Tax Exempt Organizations Non profit

The initial process for incorporating a nonprofit corporation [tax exempt organizations-non profit ] in New York is similar to the process of forming a regular corporation. However, nonprofit organizations must undergo further steps of registration to secure their status as a nonprofit 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 nonprofit 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.