Minnesota 501c3 Corporations: Tax Exempt Organizations Non Profit

Minnesota Tax Exempt Organizations: Non Profit Incorporation

Incorporating your non profit corporation in Minnesota is the first important legal step to safeguarding your personal assets and members of the corporation from being liable for business debts and other obligations. Obtaining the tax-exempt status in Minnesota will also provide potential incentives for donors of the corporation and exemption from paying federal and state income taxes.

Forming a Minnesota 501c3 Corporation

Forming a non profit organization like a 501c3 Corporation in Minnesota after deciding on the purpose and mission will require undertaking several procedures including:

Other formation procedures include writing the bylaws and policies on which the corporation will abide by, hold first initial meeting of the board of directors and apply for the Federal Tax ID Number (EIN) as well as the 501(c) (3) tax-exempt status. It is also required to publish a notice of intent to incorporate in the local newspaper and circulate the required number of times.

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