Latest news

How to Apply For 501c3 Status in Florida

No comments

In case you were wondering how to apply for 501c3 status in Florida, the following instructions will simplify the matter for you.

How to fill a 501c3 Form online or through mail?

If you are wondering how to apply for 501c3 status in Florida, the first thing you will need to understand is the application, which is required by the s. 617.0202, Florida Statutes. There are certain minimal prerequisites that you will need to consider before filing the application form, for forming a 501c3 nonprofit organization. Whether you choose to apply through online platforms or through mail, you will need to follow these instructions closely to find the answer to how to apply for 501c3 status in Florida.

If you need help in forming your 501c3 Non Profit Organization in Florida please call us at 407-344-1012, or email us at info@freedomtaxfl.com .

Before you submit your application through mail or online to the Division for processing, you will need to get your hands on the Article of Incorporation, which is also available for owners who want to file electronically. If you are filing online, you will need to review and carefully fill out each screen before you move to the next and submit it for filing. Remember, if you make an error, the document will be created by using incorrect information and there will be no other chance for you to correct the mistakes, before you submit it for processing. All the information that you have compiled while researching how to apply for 501c3 status in Florida will be rendered useless.

If you have made a mistake and received incorrect documentation, you will have to file an amendment, in addition to submitting a fee of $35. If you want to know how to apply for 501c3 status in Florida, you should know that after filing an amendment, you should ideally have the printed copy of the page, which contains the tracking number, and file it with the rest of the records to keep it retained safely. Each 501c3 is a singular entity, which has specific needs, goals, structure and purposes, as well as requirements. Therefore, for each organization, the application process or data entered in the fields might differ and in some cases, additional information can be required. Another thing, which must be kept in mind, while reviewing the application form, is that if you apply through online means the information required will be minimal, which can be quite convenient, if you are wondering how to apply for 501c3 status in Florida.

What should you do after you fill the form?

After filling the form, you will need to get it approved by the Division of corporations, which also recommends that each application form should be reviewed and approved by a legal counsel. The Division is just a filing office, and it does not offer any legal counsel, any tax or accounting advice to an individual, who is wondering how to apply for 501c3 status in Florida. The professional advice of an attorney can be crucial to ascertain that your application has all the required information and is filled out in an accurate method and in compliance with the regulations by the Division. Complying with the statutory prerequisites is highly recommended for those who want to know how to apply for 501c3 status in Florida and how to make the processing a smooth sailing journey.

How to find out if you are eligible for tax exemption?

The application, for individuals who are thinking about how to apply for 501c3 status in Florida, can be a complicated matter and if you are not in possession of comprehensive and relevant knowledge, it can be a painstaking process. The question in an application form will determine if you are eligible to apply for recognition from the IRS as a tax exempt organization, which is exempt from the state and federal tax, under the 501(a) of the Internal Revenue Code . Another thing which begs the attention of people who are wondering how to apply for 501c3 status in Florida, is that if they are eligible to apply for tax exemption, how to proceed.

In-depth study of exemption regulations by IRS

If you want to find out how to apply for 501c3 status in Florida or if you are exempt from taxes, go though the in-depth specifications under section 501(a) of the Code. It explains the requirements for exemption and goes through the eligibility process step-by-step, which conveniently explains the complicated areas of tax exemption by studying Types of Exempt Organizations or IRS Publication 557. Moreover, if you want to establish a charity and are thinking how to apply for 501c3 status in Florida, do an in-depth analysis of the  Publication 4220, Applying for 501(c)(3) Tax-Exempt Status, which is specifically designed to help potential charities and non-profit organizations to apply for tax exemption.

A corporation, a trust or an association

One of the most important things that you will need to identify, while researching how to apply for 501c3 status in Florida, is your status as a 501c3. In order for the IRS to determine whether you are eligible for tax exemption or not, they will need to know if your organization is recognized as a corporation, a trust or an association. If you want to know how to apply for 501c3 status in Florida, and are unaware in which category your company lies in, find out if your 501c3 is a corporation, a trust or an association.

If you need help in forming your 501c3 Non Profit Organization in Florida please call us at 407-344-1012, or email us at info@freedomtaxfl.com .

 

How much does it cost to file for tax exemption for a 501c3 nonprofit organization

If you want to know the answer to how to apply for 501c3 status in Florida, then you will also need to find out the cost of filing for tax exemption for a 501c3 nonprofit organization. The answer to this question is two-fold and is given below.

1)    IRS Form 1023-EZ

If your charitable organization is going to be a church, an educational institution, a foreign institution or a medical research organization, in addition of having the projected revenue of less than $50,000 a year, then there is a very good chance that your application, for being exempted from state and federal taxes, will be accepted by the IRS. However, if you were wondering how to apply for 501c3 status in Florida, you will need to file your tax exemption form side by side. The IRS Form 1023-EZ should be used for this purpose.

This form is generally shorter and a cheaper option when compared with other documentations required, and if you are starting small-scale 501c3 nonprofit organization, then this is perfect solution for you, as it cost just $400 as an official IRS User Fee. According to the IRS, it takes a lot of time for the user to completely fill this form and prepare it for submission. Even then, when you compare it to the more expansive forms by IRS, which take more than a hundred hours to complete, this seems a much convenient and efficient method. Another thing, which makes this form so great, is that the IRS takes minimum turnaround time for processing the application form and for providing approval, as compared to the extensive period required for processing the regular IRS forms.

2)    IRS Form 1023

IRS Form 1023 is a conventional application method that every new 501c3 nonprofit organization must file with the IRS, if they want to obtain a tax-exempt status. There are certain things that you need to consider, if you are wondering about how to apply for 501c3 status in Florida, because it has a direct relation with the application form. Firstly, you will need to consider the cost of the form, which comprise of the User Fee by the IRS, which is between $400-$800, depending upon the nature, purpose and size of your organization as well as the projected income of your organization in the next four to five year period.

If your organization is projected to produce more than $10,000 in the next four years, then your User Fee will be about $850 and if the revenue is less than $10,000, the you your user fee will be about $400. You can pay this application fee by a check to the United States Treasury and send it as part of your 501c3 application packet. Remember that this user fee is non-refundable. Another thing, which you must consider when exploring the question, how to apply for 501c3 status in Florida, is that if you want to hire an expert or experienced advisor or a professional, who can help you prepare and fill out your IRS Form 1023 and your application packet, then you will have access to several options like given below.

  • Use an attorney or a CPA

CPA and attorneys who specialize in the taxation field as well as non-profit organizations can charge fees from up to $2,500-$5,000+, for helping their clients prepare their IRS Form 1023 application forms. If you want to know all about how to apply for 501c3 status in Florida, for small organizations, they usually charge $2,500 – $5,000+ for preparation of IRS Form 1023 applications, and usually charge $10,000-$15,000+ for more complex and bigger projects.

  • You can save money by doing it yourself

If you want to fill and complete the IRS Form 1023 application yourself, it is quite possible and doable on your own, but it will require you to spend hours and hours on research, and rechecking the facts once you have entered them. The writing will take a lot of time and the risk of making menial mistakes runs too high. According to the estimated time predicted by IRS, for completing a IRS Form 1023 application form, is a 100+ hours for a first-time applicant. However, after finding out how to apply for 501c3 status in Florida, you do decide that you don’t want a professional’s help and are intent on completing the form yourself, then consider a professional reviewing service, at least, that will review all your forms to ascertain that you haven’t made any mistakes. This review can be crucial for ensuring your success and will increase the chances of your IRS Form 1023 application being approved by the IRS.

Filing and preparing the nonprofit articles of incorporation

The file or compilation of your articles is known as the Charter of Documents, which is the legal evidence of your registration process. We have already covered a lot of ground to guide you about how to apply for 501c3 status in Florida. However, all of that is impossible without the Charter of Documents. It is inherent that you prepare the file of documents carefully and vigilantly.

Remember that the processing phase for your articles will take 1-3 working days, if you file online, and 6-8 days, if you choose to file by mail. The filing fee is $35, while the fee of an agent in Florida is $35. The total processing cost of incorporation is $70. Moreover, Form CR2E006 is required for filling the articles. The process will be undertaken by the Florida Department of state, Florida Division of Corporations. You should ensure that the cover letter, provided by the state along with the file of articles, is attached with it.

Here are the steps that you must undertake, while compiling the information and documents to insert into your file of evidence.

  • If you want find out how to apply for 501c3 status in Florida, the first and foremost thing you will need to do is select the name of your 501c3 nonprofit organization and get it approved. It is important to find out if the name of your organization is available and is not taken by any other organization at federal or state level. The next step would be to get it approved through the required process and ensure that it is in accordance with the rules and regulations of the IRS.
  • The file of evidence must contain critical personal information about your business as well as your registered agent, who is your representative. His full name and address must be listed. In addition to that, you must remember not to include the P.O. Box number of the registered agent. For clarifying the matter of how to apply for 501c3 status in Florida, you will need to provide a physical address for the agent and a phone number, which is optional but preferable. The registered agent will be able to receive the government’s notices regarding your organization and any legal documents will be forwarded to him alone. So make sure that the contact information that you provide for the agent is accurate.
  • Make sure that in the process of finding out about how to apply for 501c3 status in Florida, you netter the correct information about the physical address of the organization where it will be based. Basically, it is the legal address of your organization. Here, you will have to enter the address of the head office of your 501c3 nonprofit organization. Many 501c3 nonprofit organizations start with a number of sub-division along with a main office. If this is the case, then you will need to enter the addresses of these divisions as well.
  • Another thing, which you must mention on the forms, is the expected duration of this organization. If you want to know how to apply for 501c3 status in Florida, then you will need to determine if your organization is a long-term or short-term origination and this will completely depend upon the goals and objectives of your organization. However, before you can determine whether your 501c3 nonprofit organization is a short-term or long-term organization, you have to clearly define your goals and detail the in a tentative and explanatory outline. Nevertheless, it can happen that during your quest for finding out about how to apply for 501c3 status in Florida, that you are unable to find the goals and thus the duration of your charitable organization. If that is the case, then list the duration of your organization as “perpetual”.
  • You must include the name of the incorporators in the article of incorporation, if you want to establish a 501c3 nonprofit organization in Florida. The State of Florida promulgates that there should be just one incorporator. Nevertheless, if you have chosen more than one incorporators, then enter the names and signatures of all of them.
  • Another thing, which must be incorporated into the article of evidence, is the complete names and physical addresses of all the incorporators of the organization. In Florida, you will be required to register with just three directors. However, you have the choice to choose more than three directors, but you will have to ensure that you enter the name and physical addresses of all of them correctly. Accurate contact information is crucial, so make sure that you do not skimp on any detail. If you don’t have directors, yet, then the State of Florida offers you the chance to form your organization without any directors and use the incorporators as preliminary directors. For someone, who is wondering how to apply for 501c3 status in Florida, this can be quite convenient.
  • The Statement of Purpose must be mentioned in the documentation. This statement will indicate your mission and your vision. A mission statement can make your case look stronger, if you choose to include the finer points about your personal, social, and racial or religious ideology or cause in the statement.
  • Every item, which is needed to complete the operations of your organization, must be listed in a comprehensive way. This means that stationary, vehicles, buildings and any other thing required for the functioning of your 501c3 nonprofit organization should be mentioned here.

These are some preliminary steps, which you must undertake, to apply for a 501c3 nonprofit organization in the State of Florida.

If you need help in forming your 501c3 Non Profit Organization in Florida please call us at 407-344-1012, or email us at info@freedomtaxfl.com .

 

Robert AcevedoHow to Apply For 501c3 Status in Florida

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *