Arizona | Business Law
Legal Question
We are creating a non-profit corporation for Harley riding folks and plan on applying for a 501 (c) (7) exemption from the IRS since we are a social club and meet their criteria for receiving such an exemption. We understand that the majority of our support should come from our members in the way of membership fees, dues or assessments. Our question is this:
Are there actual legal definitions for what are considered membership fees, dues or assessments? Do they dictate how often or how much can be requested in fees or dues? Are there restrictions for fees or donations etc.?
Can we ask for dues only once per month or can we ask for them every 10 minutes if we so choose? (Whenever we want and as often as we want.)
Can our members voluntarily provide monitary donations to support their club whenever they want?
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Read More Answered By: Donald Scher |
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