- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
I have included a few links that should be helpful. I also recommend that you have a short meeting with an attorney that provides NFP advice.
You may or may not have to file for NFP status according to the form 1023-EZ instructions:
https://www.irs.gov/pub/irs-pdf/i1023ez.pdf
If you don't file for NFP status, you will be a taxable entity, which will depend on how you completed your SS-4.
Get some upfront legal and tax advice. Even though the $$ are not significant, penalties for not filing correctly will easily exceed any tax liability, if applicable.
https://nilanjohnson.com/you-run-a-youth-sports-organization-should-you-set-up-a-501c3-or-an-llc/
Since this is most likely a very small group, any filing requirements should not be overly taxing, but you need to understand which forms are applicable.
Also keep in mind the date of replies, as tax law changes.