501(c) organization
Type of tax-exempt nonprofit organization in the United States
In United States federal law, a 501(c) organization is a nonprofit organization according to Internal Revenue Code (26 U.S.C. § 501(c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions.
Nº Q240625 ★★★★★★
Legendary · Knowledge
501(c) organization
Type of tax-exempt nonprofit organization in the United States
In United States federal law, a 501(c) organization is a nonprofit organization according to Internal Revenue Code (26 U.S.C. § 501(c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions.
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From Wikipedia
In United States federal law, a 501(c) organization is a nonprofit organization according to Internal Revenue Code (26 U.S.C. § 501(c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions. Many states refer to Section 501(c) for definitions of organizations exempt from state taxation as well. 501(c) organizations can receive unlimited contributions from individuals, corporations, and unions. For example, a nonprofit organization may be tax-exempt under section 501(c)(3) if its primary activities are charitable, religious, educational, scientific, literary, testing for public safety, or preventing cruelty to children or animals.
Text: Wikipédia, CC BY-SA 4.0. ·
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