Taxpayers considering starting a not-for-profit business and want to apply for tax-exempt status under Section 501(c)(3) of the tax code, need to submit Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. This article provides five tips for ensuring a successful application.

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If you are thinking about starting up a not-for-profit, your tax consultant at Sharrard, McGee & Co., PA is happy to guide you through the planning process. Call us in High Point at (336) 884-0410 or in Greensboro at (336) 272-9777.