South Dakota 501c3 Corporations: Tax Exempt Organizations Non Profit
501c3 Corporations: South Dakota Non Profit Incorporation
Incorporating your non profit [501c3 Corporations] business in South Dakota is similar to forming a regular corporation. However, non profits seeking the tax-exempt status and the additional tax incentives available within the state must include specific the specific language in the articles of information upon initial filing.
Form a Non Profit Organization in South Dakota
The first step to forming a non profit organization in South Dakota is preparing and filing articles of incorporation with the South Dakota Secretary of State and paying an initial state-imposed filing fee of $25. The state law requires that certain information be included in the articles of information such as:
- The proposed corporate name - this name must be unique to any other registered corporation on file with the South Dakota Secretary of State and must end with the word “Corporation”, “Incorporated”, “Limited” or its abbreviated form
- The name and address of each initial incorporator
- A set of bylaws
- Name and address of the corporation's registered agent
- Number of Directors
- The corporation's street address
Non Profit Tax Exempt Incorporation
Filing section 501(c) (3) with the Internal Revenue Services is the first important step to qualifying for the tax-exempt status. Advantages of obtaining the tax-exempt status include obtaining the personal liability protection for members of the corporation, permission to obtain grants from government agencies and private entities as well as exemption from paying federal and state income taxes on profits generated by the corporation.