Q&A: How do i file taxes for my nonprofit small business?

Posted on June 16, 2011 by

Question by Nickname Here: How do i file taxes for my nonprofit small business?
I have a small business that was just deemed Nonprofit by the state. Prior to this, i had only been in business for about 1.5 years. In the past, i just filed regular business taxes. Now that i am nonprotif status, do i have to file my taxes differently?

Thanks!
No, i was told that i DONT have to file tax exempt, that part is optional based on circumstances

Best answer:

Answer by Caveat Emptor
I believe that “nonprofit status” is required from IRS – not just the state.

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One Response to Q&A: How do i file taxes for my nonprofit small business?

  1. Bostonian In MO says:
    June 16, 2011 at 8:41 pm

    Getting non-profit status from your state is only half of the battle. Now you have to apply for the appropriate status under the proper subsection of section 501(c) of the Tax Code.