Legal Question in Business Law in Oklahoma
Llc
If an LLC (a religious educational center) is operating more like a non-profit organization, by law, is the LLC able to accept donations? I have heard conflicting reports on this and want to make sure that I have correct information.
Asked on 6/09/09, 4:23 pm
1 Answer from Attorneys
Wayne Allison
Allison Legal, LLC
Re: Llc
This is really a tax law question, so a tax law attorney is ultimately what you need; however, generally donations are tax deductible for the donor when given to a corporation chartered as a 501(c) (as one of the 501(c) subparts). An LLC is not a "corporation"; rather, it is a "company," which involves different legal and tax treatment.
Answered on 6/10/09, 4:56 pm
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