Incorporating NPO
Asked by: CODY - 7 June, 2013
How do I know if I have a real, working EIN number that I can use to inc my non profit?
Also I know I want this organization to last long beyond my time on this earth, so from what I understand LLC isn't the route. What path is for NPO, are corporations and inc's one is the same?
How do I know if I have a real, working EIN number that I can use to inc my non profit?
Also I know I want this organization to last long beyond my time on this earth, so from what I understand LLC isn't the route. What path is for NPO, are corporations and inc's one is the same?
Answered by: Robert Kowalski - 9 June, 2013
Cody,
First of all, one should obtain EIN after the company was formed, not before, even tough IRS permit that. The reason is simple - you don't want to obtain EIN for one company name only to learn that the state rejected that name during registration as it conflicts with another name. From your question it's not clear if you already have EIN or intend to obtain one.
Second, LLC or regular corporation are not good vehicles for non-profit organizations, because each state has a special entity type for such purpose (not-for-profit corporation).
Cody,First of all, one should obtain EIN after the company was formed, not before, even tough IRS permit that. The reason is simple - you don't want to obtain EIN for one company name only to learn that the state rejected that name during registration as it conflicts with another name. From your question it's not clear if you already have EIN or intend to obtain one.
Second, LLC or regular corporation are not good vehicles for non-profit organizations, because each state has a special entity type for such purpose (not-for-profit corporation).
