Legal Question in Business Law in Tennessee
non profit organizations
We need to find info on creating a non profit organization. Creating the charter/bi-laws? Is this something we need an attorney for or can we do this ourself? Also need info on where to find the laws of our state reguarding this type of organization.
Any info is appreciated.
2 Answers from Attorneys
Re: non profit organizations
You can ask the Tennessee Sec'y of State in Nashville for general information regarding state law for corporations. I would suggest, however, that you seek competent legal advice regarding a non-profit corporation. There are several issues (personal liability, tax status) you will need to have an attorney and and accountant advise you on.
Re: non profit organizations
A non-profit should be incorporated. Non
profit corporations are very similar in form
to for profit corporations except that the
non profit corporation does not have shareholders.
501(c)(3) recognition by the IRS is a secondary
step following incorporation and allows the
non profit corporation to raise funds 50% of which
are tax free contributions.
Marshall M. Snyder
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