Monday, March 15, 2010

What is 501 (C) Federal Exemption for Non profit Organization?

According to the Internal Revenue Code, the nonprofit organizations or not-for profit organizations are exempted from a few federal income taxes; like Religious Corporation, Educational, Charitable, Scientific, Literary, Testing for Public Safety, to Foster National or International Amateur Sports Competition or Prevention of Cruelty to Children or Animals Organizations and not-for profit organization can take pleasure of this facility.

Source www.infosquare.com

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