new nonprofit & tax exemption

[gr8tgrad]

What is the name of your state (only U.S. law)? South Carolina

Hi - I'd like to start a new non-profit in SC - I understand that it is these are tax-exempt - but kind of transactions could cause the non-profit to be taxed (if any)?

Thanks for your time.

 

[tranquility]

Books are written on the question. Think of things which compete with profit-making businesses.

 

[FlyingRon]

Further, just because your corporation is non-profit doesn't make it tax exempt. You must specifically apply (and qualify) for that recognition.

 

[tranquility]

Hardly any of the C-corp returns we do show a profit. "Non-profit" is sometimes easy and sometimes hard but is usually a goal for a small corporation which is not a passthrough entity.

 

[Country Living]

Moving to the main page. I'll come back in a bit and delete this.

 

[gr8tgrad]

thx - you can delete this

Thx - I asked this ? for someone else -but apparently they need to follow up with their own work. There's too many biz items to consider to answer quickly - I'll let the owner figure it out.

Delete at will - since the answers here are not really useful to anyone.