Business Condo Association Denied Non-Profit Status

Non-profits do not pay Federal income taxes. Many states also exempt these entities from state income taxes. The local tax assessor may also exempt the entity from property taxes. The IRS regulates non-profits by denying non-profit status to entities. It also has a whole regime of penalties and excise taxes to deter for-profit entities from… Continue reading Business Condo Association Denied Non-Profit Status

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