Sonoma County Nonprofit Tax Law Attorney
Many people believe that nonprofit organizations are a better and easier option than a traditional business if they want to pay themselves a salary, but are not interested in generating investor return. However, tax-exempt nonprofits come with their own unique set of risks and generally involve much higher set up costs and ongoing compliance requirements. At Ivo Austin Law, our Santa Rosa nonprofit organization lawyer can help you explore your options and decide whether a nonprofit is right for you.
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The process of starting up a nonprofit is more complicated than a standard corporation, because most nonprofits are seeking tax exemption. In addition, California law places various requirements on nonprofits; for example, if you have gross revenues above a certain point, you will be required to obtain an annual financial audit. Many tax issues arise in the area of fundraising and charitable donations. In addition, the volunteer nature of board positions can create challenges for institutional continuity and good governance.
Applying for the nonprofit tax exemption is a long and sometimes difficult process. Once you are approved, it can be equally difficult to stay in compliance with tax regulations. The IRS takes these concerns very seriously, so it is important that you receive solid legal and accounting advice.
While tax exemptions are a federal issue, nonprofit corporations are formed under state law. The California Attorney General is tasked with ensuring that you are working for the public benefits that nonprofits are designed to promote. The California Nonprofit Integrity Act of 2004 sets forth numerous legal requirements designed to curb abuse.
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If you are operating a nonprofit organization or are interested in starting a new one, it is time to get answers and explore your options. Located at Sonoma Mountain Village in Rohnert Park, we are ready to help you decide if a nonprofit is right for you. Open during weekly business hours, we offer evening and weekend appointments as well. Contact us online or call 707-304-5191 today for a free initial consultation.
