Difference between revisions of "How to obtain tax-exempt status"
(→Amateur sports organizations) |
(→Prevention of cruelty to animals or children organizations) |
||
| Line 188: | Line 188: | ||
*To conduct national or international sports competition or “to support and develop amateur athletes for that competition.” | *To conduct national or international sports competition or “to support and develop amateur athletes for that competition.” | ||
| − | =====Prevention of | + | =====Prevention of Cruelty to Animals or Children Organizations===== |
| − | + | ''Eligibility'' | |
The IRS provides three examples of organizations that are dedicated to the prevention of cruelty to animals or children that may qualify for tax-exempt status, including organizations that:<ref>Ibid.</ref> | The IRS provides three examples of organizations that are dedicated to the prevention of cruelty to animals or children that may qualify for tax-exempt status, including organizations that:<ref>Ibid.</ref> | ||
| − | * | + | * Prevent children from working in hazardous trades |
| − | * | + | * Promote high standards for care of lab animals |
| − | * | + | * Provide funds to pet owners to have pets spayed or neutered. |
===Other application factors=== | ===Other application factors=== | ||
Revision as of 10:26, 11 August 2008
This article is intended to provide a general description of the process for obtaining 501(c)(3) status under the U.S. Internal Revenue Code and is not intended to substitute for the advice of private counsel on specific issues related to the IRC or the 501(c)(3) application process. Original draft by Bobby C. Neal.
In the United States, a non-governmental organization (NGO) is generally subject to federal, state, and local taxes unless and until the organization qualifies for tax-exempt status. This article focuses on the process for obtaining a federal income tax exemption for NGOs.[1] NGOs that meet the criteria set forth in 26 U.S.C. § 501 of the Internal Revenue Code (section 501) are eligible for a federal tax exemption.[2] The benefits to obtaining tax exempt recognition by the Internal Revenue Service (IRS) include: income tax exemption, eligibility to receive tax-deductible contributions, possible exemption from certain employment taxes, and reduced postal rates. Section 501 describes the organizations that are eligible for tax-exempt status. The most significant category of tax-exempt organizations is section 501(c)(3).
