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501(c) Organization: What They Are, Types, and Examples
Автор: Simple Explain
Загружено: 2023-12-07
Просмотров: 416
Описание:
501(c) is a designation under the United States Internal Revenue Code (IRC) that confers tax-exempt status on nonprofit organizations. Specifically, it identifies which nonprofit organizations are exempt from paying federal income tax. Under 501(c) are multiple sections that delineate the different types of tax-exempt organizations, according to their purpose and operations. The 501(c)(3) organization is probably the most familiar tax category outlined in Section 501(c)(3) of the IRC.
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