Legal Question in Business Law in New York

Is there anyway I can continue this idea
I am currently starting a business
and am unsure how to register it as.
The business is basically people
donated a specific product and I will
revise/redesign it and will resell it for
less. Now I want to give the
donators a tax write off but I didn't
want to register as a non profit
company because I do not know they
do not generate enough money to
keep the business a float. I am
looking for a loop hole or solution in
order to benefit my donators or
contributers. What is the best way to
get around this in order to avoid legal
problem ?

Asked on 3/29/09, 10:39 pm

Michael Markowitz Michael A. Markowitz, PC

0 users found helpful

0 attorneys agreed

Re: Is there anyway I can continue this idea

In order for a donor to receive a tax deduction for the contribution, the company must register as a 501(c)(3) company.

Mike.

Answered on 3/30/09, 8:25 am

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