A non-profit corporation is a special type of corporation that has been organized to meet specific tax-exempt purposes. To qualify for non-profit status, your corporation must be formed to benefit (1) the public, (2) a specific group of individuals or (3) the membership of the non-profit.
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How do you form a nonprofit corporation?
Non-profit corporations follow state laws that are very different from those of standard corporations—but the business formation process is very similar. Non-profit Articles of Incorporation must be filed with the state and applicable state filing fees paid. In order for your nonprofit to become tax-exempt, Form 1023 must be filed with and approved by the IRS. Some states also require a state-level tax-exempt status filing.
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