Legal Question in Business Law in Ohio

Dear Inquirer: Yes, so long as the non-profit corporation or LLC actually earns no profit at the end of the year, by applying income against expenses, including compensation to its principals and employees, etc. as defined in the statutes and regulations. A non-profit must conform to the Federal and state regulations applicable,and governing the creation and operation of a true non-profit corporation. Consult and retain experrienced legal counsel and accountants to advise you, and to avoid future problems. Good luck, God Bless....

Sincerely,

J. Norman Stark, Attorney

Cleveland, Ohio

(216) 531-5310 Ext. 22