Instructions For Form 1023 Pdf: Fill & Download for Free

I answered a similar question about how to start a non profit. My answer was less about all the paperwork (though it did address some of the paperwork in part) but instead it focused more on why you want a 501c3 in the first place and do you really need one. If you are just doing small fundraising it may not be necessary.Here’s my prior answer to “how to create a non profit”:You can do it the easy way, the hard way, or in between:The Easy Way: You don’t need any “paperwork” and don't need to create a company, or any new "entity" at all. You can fundraise on behalf of other charities using a fundraising website like www.CrowdRise.com, www.FirstGiving.com, etc. You set up your own fundraising page on one of these sites, send your donors to the fundraising page. The donation goes directly to the charity (and the donor gets a tax receipt). You can track how much you raised in total, and who has donated/paid). If you are requiring a minimum donation as the “entry fee” for an event (like a chess tournament), you can see who “paid” via a donation.In Between: You can form a non-profit corporation. There are online services that can form this entity for you, including www.LegalZoom.com and www.mycorporation.com. They can do all the paperwork for you, for about $100-300 or you can do it yourself for free. I recommend using one of these services because they can also send you reminders each year when renewals are due and provide other related, helpful services. Either way, there’s another $50-250 in state filing fees. There are also small filing fees every year to renew. Make sure you form a non-profit corporation. This is pretty quick and can be up and running in a few days.Benefits: (1) Pretty easy. (2) You get to have a "title" like "CEO" or "President" of a company.Drawbacks: (1) Cost. (2) Paperwork: Annual renewals and filing fees required. (3) More Paperwork: You will have to file company tax returns each year (assuming your revenues are low enough, this will likely be just a simple online form 990N e-postcard). (4) It’s not a full 501(c)(3), which may be required by some corporate donors (see below). Also, if you are not a 501(c)(3), your profits will not be tax exempt (but that’s not a problem, because you will not have any profits if you plan to donate virtually all the money you raise to a charity).For more info see https://www.councilofnonprofits....and https://nonprofithub.org/human-r...The Hard Way: After you have formed your non-profit corporation (above), if you wish to get 501(c)(3) tax status from the IRS, you have to file an IRS form 1023EZ. (I’m assuming you will qualify for the EZ version of the form – more on this below). This may be important once you start to seek larger corporate donors because some potential corporate donors will only donate if you have 501(c)(3) status and they have seen your certificate to prove it. Legal Zoom will charge you $600 to complete the form for you, but you can fill out the form yourself for free (see link below). If you do it yourself, it takes a bit of work. Either way, there's a $400 filing fee directly with the IRS (for the EZ form; about double that for the regular form 1023). There's a long lag time after you apply before you hear back from the IRS with a decision - it may take several months before you hear back. For very small non-profits, it should be pretty easy to get approved.Benefits: (1) Makes it easier to get donors and sponsors. (2) Donations to you are tax deductible. (2) Gives you tax exempt status (unlikely to be relevant unless and until you have large profits).Drawbacks: (1) Cost. (2) Time lag. (3) Additional annual filings.You can find the relevant IRS forms and instructions here: http://www.irs.gov/uac/Form-1023,-Application-for-Recognition-of-Exemption-Under-Section-501(c)(3)-of-the-Internal-Revenue-CodeAssuming you plan to raise only small amounts (currently less than $50,000 per year), and meet the other qualifications, you can file a streamlined IRS form 1023EZ. To see if you qualify for the EZ version, look at this checklist/worksheet posted by the IRS here (see section titled “who can file this form”): https://www.irs.gov/pub/irs-pdf/...Be sure to save your letter from the IRS granting 501c3 status. Scan it into your computer. You’ll need to show this to many potential donors and sponsors.After you have been granted 501c3 status, be sure to register your charity as a 501c3 on https://www.charitynavigator.orgHomepages:Whichever level you chose, you may want to have a web presence, such as your own website, and/or social media home pages such as on Facebook, Instagram, LinkedIn, Twitter, etc. Some website builders that are easy to use include Weebly, WordPress, Wix, SquareSpace, GoDaddy, SiteBuilder, etc. We don’t recommend any one of them over the other – this is more a matter of personal preference. Many are easy to use even for novices. They have drag and drop tools and no coding knowledge is required.

There are 4 main business structures, and all are applicable to both brick and mortar businesses and e-commerce businesses:Sole ProprietorshipsPartnershipsLimited Liability Company (LLC)CorporationsIf you're confused about which structure to choose, read our in-depth guide on structuring your business for success.Regardless of what business structure you choose, there are a few steps you'll have to follow. First, you'll need an Employer Identification Number (EIN). While Sole Proprietors don't technically need an EIN, it's a good idea to have one if you ever intend to employ anyone.You can register for an EIN through the IRS website.The state of Florida requires some businesses to hold a licence in order to legally run their business. This license is known as a Department of Business and Professional Regulation (DBPR)To check whether the DBPR requires you to hold a licence for your service click here.If your business type in not listed in the DBPR website, it may not automatically mean that you don't require a license.To be absolutely certain of your licence requirements, you should contact your appropriate Florida state agency and ask them.A directory of state agencies can be found here.You should also check with your state agency whether you need a zoning permit to operate your business in its location, especially if you plan to operate your business from home.With those formalities taken care of, now we can focus on the specific business structures in Florida.How to start a Sole Proprietorship in FloridaA Sole Proprietorship is the simplest business structure to set up because you don't need to file any documentation with the Florida state department.The owner of a Sole Proprietorship is considered as an indistinguishable entity from the business, so all personal liabilities are shared with that of the business.To launch a Sole Proprietorship, follow this procedure:Choose a business nameYou can use your own name as the business name or register a business name.If you choose to trade under your own legal name you won't need to file a name registration because your name will automatically be appended to your Sole Proprietorship business.Most business owners prefer to trade under a unique business name (also known as a fictitious name). This name will need to be registered.Before registering you business name you need to make sure that it is not already in use.The state of Florida has a database containing all of business names that have been registered in the state. You can search to see if yours is still available.Register your business nameIf you are using your own name as the business name you can skip this step.If you find your business name is available, you'll need to register it. But before you register your business name you'll need to file an intention for it to be published in a newspaper where your business’ principal office is located.This Florida statute (865.09) has been effective since 1 July 2009. Failure to comply with this statute will result in a misdemeanor of the second amendment which could result in a fine of up to $500 and 60 days of jail time.Thankfully, you can simplify this process by using third party business name publication services.With your intention for newspaper publication filed, you can register your fictitious business name. To register your business name click here. There's a $50 charge for processing this application.Tax details for Sole ProprietorsSole Proprietors are only taxed at the Federal level, which will include all of the income generated by the business. Business profits and losses are reported on a Sole Proprietor's personal income tax returns. Since Florida has no state income tax, you won't have to worry filing a separate state return.You can find all the tax forms for Sole Proprietors here.How to start a Partnership in FloridaIf you plan on launching a business with at least one other person, the simplest form of business structure you can choose is a Partnership structure.There are two different types of Partnerships: a General Partnership and a Limited Partnership.Members of a General Partnerships equally share the liability of the entire business.Limited Partnership members cap their liability risk in order to achieve a greater level of protection over their personal assets.A General Partnership status is adopted by members that are involved in the day-to-day activities of the business. They own the highest portion of the business and have the greatest jurisdiction over business decisions.A Limited Partner is not involved in the daily operations of the business, but is an investor.You're likely to only require a General Partnership structure to be established for each member.Here's the process to register both a General and a Limited Partnership in Florida:Choose a business name.This process of choosing and registering a business name for a partnership is the same as the Sole Proprietorship process.Register business nameThis process of registering a business name for a partnership is the same as the Sole Proprietorship process.Complete a partnership agreementA partnership agreement is a formal agreement that outlines all the processes of the business and the roles of each partner. It is important to be as granular as possible when drafting this agreement, you may find yourself referring to on many occasions to quell disputes.For more details on what to include in a partnership agreement, read our guide on Structuring Your Startup.Register partnershipTo register a General Partnership, you'll complete the Partnership Registration Statement.Once completed, you'll file it with the Division of Corporations along with your Statement of Authority (which we'll discuss in a moment). There is a $50 filing fee for each general partnership registration.Limited partnershipTo register a Limited Partnership, you'll complete the Statement of Qualification for Florida or Foreign Limited Liability Partnership.This form will be filed with the Division of Corporations, along with your Statement of Authority. There's a $25 filing fee.Complete a Statement of AuthorityA Statement of Authority lists all the partnership of the business and indicates who has the right to sign for the business.You can access the Statement of Authority form for general partnerships here, and the form for Limited Partnerships here.You'll file this form with the Division of Corporations. There's a $25 filing fee.Tax details for partnershipsPartnerships are exempt from paying state income tax. Partnership business owners are required to report the profit and loss of their business on their Federal income taxes. All taxation forms relevant to Partnerships can be accessed here.How to start a corporation in FloridaA corporation allows you to distribute shares and also greatly increases your chances of getting funding.The process of forming a corporation is more complicated and more costly compared to a Sole Proprietorship and Partnership.Choose a name for your corporationCorporation names need to be indicative of the corporated structure of the business, as a result, the name needs to end in either one of the following:CorporationCorpIncorporatedIncCompanyCoTo check the availability of your proposed business name, search the Division of Corporations database here. You may also want to do a trademark search.Choose a registered agent in FloridaEvery corporation in Florida must have a registered agent. A registered agent acts as the primary point of contact for the business. This is to ensure a reliable stream of communication between the public and the business.Registered agent requirementsThere are strict requirements that all registered agents need to meet:Have a registered office in Florida. This can include home locations, but the mailing address cannot be a PO box.Be available during business hoursAccept service of processesA registered agent needs to accept the obligatory duties that are associated with the role, such as accept service on behalf of the corporation and forward all documentation to its members.A registered agent is nominated when you submit your Certificate of Incorporation application (more details in the following section).If you ever wish to change registered agents you'll need to fill out this form. There's a $35 processing fee.Make sure you also reflect your amended registered agent in your annual report.Should you be your own registered agent?You could legally appoint yourself (or a business partner) as a registered agent, but it's not recommended.A registered agent is usually required in every state you do business, so if you appoint yourself as a registered agent you'll need to open brick and mortar businesses in every state you establish yourself. Many business owners choose to partner with a professional registered agent service.Professional registered agent servicesIf you can't find a reliable friend or family member to act as your registered agent, you could employ a professional registered agent service to act on your behalf.Some options are listed below:Northwest Registered AgentRegistered Agents IncFlorida Registered AgentHarbor ComplianceAgents and CorporationsFile Articles of IncorporationThis document outlines all the specifics of your corporation including:NameLocationRegistered agentNumber of sharesDetails of each shareholderYou can file this document online, or print a PDF and mail it to the Division of Corporations. There's a $70 filing fee for each application.Host corporate meetingThis is the initial meeting with all directors and board members. The purpose of this meeting is to discuss all of the aspects of the business, and establish corporate bylawsBylaws are a list of self instituted laws that ensure that all parties are in agreement with the expectations of the business and how it should be directed.You can download a template to help create your corporate bylaws here.During this meeting you can also formally issue stock to all members.Issue stockUnlike Sole Proprietors and Partnerships, as a Corporation you can legally distribute stock certificates, this makes your business a lot more appealing to investors.You can either issue stock certificates through your accountant or use a template such as this one.Establish a corporate records bookThis is a formal means of aggregating all of your corporate documentation. You can either create this record book yourself have a professional create one for you.Submit annual reports.Unlike simpler business structures, corporations and LLCs require annual reports to be submitted.An annual report summarises all of the activities performed by the business throughout the year and identifies how each of these activities helped propel the business towards its growth aspirations.This report is given to shareholders to help them clearly identify the amount of profit or loss the business sustained each year.The fee for submitting this report is $150 and it must be filed between January 1 and May 1. An additional fee of $400 applied is the report is filed after May 1 of a particular year.For instructions on how to file your annual report in Florida click here.To file your annual report electronically click here.Taxation for corporationsThe method of taxation of a corporation depends on its type.There are three main types of corporations:C-corpS-corpB-corpC-corporations are to the state’s corporate income tax rate of 5.5%. S-Corporations only pay income tax at a Federal level.All relevant taxation forms for C-corporations can be accessed here.All relevant taxation forms for S-corporations can be accessed here.Forming a Limited Liability Company (LLC) in FloridaThere are multiple benefits of choosing to form an LLC, the most prominent being the superior level of protection for your personal assets.Below we have outlined the processes of forming an LLC in FloridaChoose a business name.This process of choosing and registering a business name for a partnership is the same as the Sole Proprietorship process.Register business nameThis process of registering a business name for a partnership is the same as the Sole Proprietorship process.Choose a registered agent in FloridaJust like with a corporation, you'll need to choose a registered agent for your LLC. Your registered agent accepts legal papers on behalf of the LLC.Submit Florida Articles of OrganizationThe registration process of an LLC involves the submission of a form called the Articles of Organization. Before submitting the form you need to decide whether your LLC will be member managed or manager managed.In a member managed structure, all of the members of an LLC have a say in the operations and overall direction of the business. All members of an LLC cast a vote before making a decision, to give each member an equal opportunity to voice their opinions.In a manager managed structure, all of the day-to-day company decision are allocated to a manager (or managers). This is a more fluid process if there is a large number of members in the company. The managers of the company handle the day-to-day decisions on behalf of all other members who then have more time available to run the business.Once you've decided on a management structure that works best for you, you'll fill out your Articles of Organization form.If you choose a member-managed structure, you can leave the section asking you to list all managers of the organization (article 4) blank, or list the name of each individual member. If you choose a manager-managed structure you will need to list all managers in this section.Once filled out, send it to the Division of Corporations or file it electronically. There's a $125 filing fee.Create an operating agreementThis is not a mandatory step for the state of Florida but it's highly advisable. An operating agreement identifies all the owners of the company and key operating procedures.Submit annual reports.LLCs are also required to submit an annual report.For instructions on how to submit your annual LLC report in Florida click here.To lodge your annual report electronically click here.Your annual report needs to be submitted between January 1 and May 1 every year. The processing fee for each annual LLC report is $138.75.If your report is submitted after 1 May, a $400 fee applies.Tax details for LLCsLLC owners pay self-employment tax on business profits as well as federal tax. In order to decrease the amount of self-employment tax you pay, you would need to lodge your tax return as an S-corporation.For instructions on how to classify your LLC click here.For all taxation forms relevant to LLCs click here.How to form a nonprofit corporation in FloridaIf your motivation for running a business is not to churn profits, but rather to do good in this world, you should choose a nonprofit structure. Nonprofits are exempt from state and Federal taxes.Below is the process of forming a nonprofit organization in Florida:Choose a name for your nonprofitThe naming convention for nonprofits in Florida is similar to the guidelines for corporations, except “Company” and “Co” cannot be used.So your nonprofit can only end in the following:CorporationCorpIncorporatedIncFile Articles of IncorporationA nonprofit is registered once this document has been processed and accepted.When filling out your articles of incorporation form, it is important for you to be very clear specify the charitable nature purpose of your organisation in article 3 of the form. This will help differentiate your business from a for profit corporation.It is important to note that the submission of this form alone does not grant you a tax exemption status. To receive this status you will need to submit specific documentation to the IRS (more on that shortly).You can access the nonprofit Articles of Incorporation form here. There's a $70 filing fee.Apply for a tax exemption statusWhen establishing your nonprofit, you need to apply for a tax exemption at both the state and federal level.Federal level tax exemptionTo be exempt from Federal tax you need to fill out and submit form 1023 which you can access here.State level tax exemptionTo apply for an exemption from state-based taxes in Florida, fill out this form.For more detailed taxation information for nonprofits in Florida click here.Being exempt from tax does not automatically exempt your from taxation paperwork. All nonprofits need to submit annual information returns to the IRS.You can access the form here.Public disclosure requirementsNonprofits need to make a certain selection of documentation, including their annual reports, readily available to the public at any time. These documents are usually accessible via links on the nonprofit’s website. The types of documents you need to make available are listed on the IRS website.For details on how to structure your nonprofit annual report click here.https://www.freelancer.com/starting-your-business/florida