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Anonymous
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My nonprofit was recently started and so I don't have any employees or expenditures/revenues. How do I know if I need to pay quarterly taxes?

 
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Carl
Level 15

My nonprofit was recently started and so I don't have any employees or expenditures/revenues. How do I know if I need to pay quarterly taxes?

Most (not all) non-profits don't have employees per-se. But a Not-forProfit definitely can. There is a vast difference when it comes to taxes between a non-profit and a not-for-profit. TurboTax can't be used for either as it doesn't include to forms necessary for the NP or NFP status that have to be filed with the return. I would highly suggest you get with a professional for a face-to-face in your state. This would be particularly important if your state taxes personal and/or business/corporate income. Doing things wrong can lead to revocation of the NP or NFP status with the IRS as well as your state. So you'll find the cost of professional help to be well worth it.

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