Legal Question in Business Law in New York

To whom it may concern:

We are a small group of nuns. We would like to form our own corporation - separate from our Cathedral, which we are now under. We would also like to become tax exempt on our own.

Are these two separate procedures?

What type of law is involved?

Where do we begin?

Is it possible to find someone to walk us through this - even online pointers would be appreciated.

Thank you,

Sister


Asked on 11/24/09, 2:33 pm

2 Answers from Attorneys
Steve Brodsky Esq. CheapNewYorkLLC.com

Hi Sister,

Yes, these are two separate procedures. The first is to form a corporation under NY law. Next would be applying for tax-exempt status under the IRS. This is a lengthy and expensive process. To get an idea of what you are facing, take a look at IRS Form 1023 here: http://www.irs.gov/pub/irs-pdf/f1023.pdf

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Answered on 11/29/09, 2:47 pm
Michael Markowitz Michael A. Markowitz, PC

Steve is not 100% correct. You would form a not for profit corporation. You would also apply for tax exempt status, with both NYS and the IRS.

Please submit another question explaining why you want to be a corporation.

Mike.

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Answered on 11/29/09, 5:20 pm


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