North Dakota 501c3 Corporations: Tax Exempt Organizations Non Profit
North Dakota 501c3 Corporations: Non Profit Incorporation
North Dakota permits at least one individual to form a non profit organization like a 501c3 Corporation providing they meet the state stipulations. This non profit organization is a separate entity with its own rights, privileges and liabilities. Under state law, these non profit organizations at no time can post profits or pay dividends to its principals.
North Dakota offers various incentives to non profit organizations. These include limited liability, tax exemption, immortality unless otherwise established for specific periods, cheaper postage rates, cheaper public media rates and public funding.
Forming a Tax Exempt Non Profit Organization in North Dakota
Forming a non profit organization in North Dakota involves several filing procedures such as:
- Creating a unique and unregistered name for the organization
- Once given clearance for the name, you can apply for articles of incorporation. This involves completing various forms requesting the name and address of the organization, its principals, the stated aim of the organization and its proposed life span.
- Upon receiving the articles of incorporation, you file for an Employer Identification Number (EIN) to employ workers and conduct other business within the state.
- You also must apply to the Attorney General’s Office to attain charitable status. This allows the organization to solicit funding from both private and public sources.
- Once the organization’s status is declared, they then apply to the IRS under section 501(c) (3) to obtain the tax-exempt status. The IRS reviews this declaration annually.
Incorporate your Tax Exempt Nonprofit Organization
By preparing articles of incorporation and including the required information, such as the specific language of the IRS to obtain the tax-exempt status (Publication 556), the name of the corporation, its purpose, name and address of the initial incorporator(s), name and address of the registered agent. Submit articles of incorporation with the North Carolina Department of the Secretary of State Corporation Division and pay an initial filing fee of $60.
Other formation procedures to establishing your charitable organization in the state of North Carolina is applying for Employer ID Number (EIN), request 501(c) (3) tax-exempt status from the IRS and register with the State's Office.