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Starting a for profit and run as not for profit

#1
What is the name of your state? NY

I would like to know if it is legal to start a for profit business and run it to donate to charities and such. I would like to have people vote on where the money goes.
 

Taxing Matters

Well-known member
#5
What is the name of your state? NY

I would like to know if it is legal to start a for profit business and run it to donate to charities and such. I would like to have people vote on where the money goes.
It is. Indeed, a great example is the Newman's own line of food products. The food products are all made by a regular (non tax exempt) business that then donates all its profits to the charity that Paul Newman created. But you will want to meet with a tax attorney for advice on how to do this with the best tax results and without violating any tax law. Good luck!