Vermont 501c3 Corporations: Tax Exempt Organizations Non Profit
Vermont Non Profit Incorporation
Incorporating your non profit organization in Vermont is the first important step to helping improving the quality of life for those who need it most. Many of these programs help feed the hungry or build schools.
Forming a Non Profit Organization in Vermont
Forming a non profit organization in Vermont will require filling out a state-specific form known as the Articles of Incorporation and filing it with the Corporations Division in the office of the Secretary of State and paying an initial filing fee of $75.
The articles of incorporation must include the organization as a Type B corporation to qualify for the IRS tax-exempt status. This state-specific document must also include the approved name of the corporation, its purpose, the name and street address of the registered agent, name, address and verified signature of the initial incorporation and the mailing and/or principal address of the corporation. Other formation procedures include:
- Writing corporation bylaws
- Applying for an Employer Identification Number (EIN) from the IRS
- Publishing a notice of intent to incorporate in the local newspaper
Advantages of the 501c3 Corporations Tax Exempt Status
Filing under section 501(c) (3) in the articles of incorporation is the first significant step to obtaining the IRS tax-exempt status. Obtaining the tax-exempt status in Vermont can bring about many potential tax and financial advantages including:
- Limited liability protection
- Exemption from paying federal and state income taxes
- Possible property tax exemption
- Allows donors to make tax-deductible contributions