Legal Question in Business Law in Utah

Do you have to pay?

I am asking for donations on the internet to help start my buisness.

And I was just wondering if I would need to take taxes out of the

money that I get. To avoid me getting to to trouble with the state or

federal. Thank you very much for helping me.


Asked on 8/30/05, 8:48 pm

1 Answer from Attorneys

Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Do you have to pay?

Yes unless you qualify for tax exempt status as a not for profit corporation. Otherwise it is ordinary income.

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Answered on 8/31/05, 10:11 am


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