Starting a Nonprofit Organization: Federal Tax-Exempt Status
Starting a Nonprofit Organization: Federal Tax-Exempt Status Once a non-profit organization has been incorporated with the state, obtained a federal employee identification number, formed a board, and commenced operations, it can apply for tax-exempt status with the federal government. There are two major reasons why a nonprofit may desire tax-exempt status. First, exempt status allows…
Starting a Nonprofit Organization: State Reports and Filings
Starting a Nonprofit Organization – State Reports and Filings Previous articles in this series have discussed nonprofit start-up tasks of incorporating with the state, obtaining a federal employee identification number, opening bank accounts, and applying for federal tax-exempt status. Beyond these vital tasks of starting a non-profit organization, there may be several additional details to address…
Can a part-time employee be exempt?
Can a part-time employee be exempt? Yes, a part-time employee may be classified as exempt. The minimum salary and duties requirements must still be met, of course. And the minimum salary cannot be prorated when an exempt employee works part-time. In other words, the federal requirement to pay $684 per week (or the higher state minimum salary) will…
