Legal Question in Business Law in Florida
I am attempting to open a non-profit busines. I am getting ready to file for my 501c3. Some say I have to get a tax ID number first; others say I need the 501c3 first. Which is it?
Asked on 4/07/10, 5:50 am
2 Answers from Attorneys
Leon Ferraez
Ferraez, LLC
You need the not-for-profit corporation first, period. Then you apply for the FED ID number and determination letter from the IRS.
Answered on 4/12/10, 8:16 am
Leon Ferraez
Ferraez, LLC
Just to follow up on my prior response; the application for the tax exempt status from the IRS is much more complicated than the form leads you to believe. One technical error will cause a rejection, or worse, approval for the wrong category. So be careful. It might be worth your while to have an attorney review your completed application just to review it.
Answered on 4/12/10, 8:18 am
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