Thursday, July 17, 2008

Business - Nonprofits get a break - sacbee.com

Business - Nonprofits get a break - sacbee.com: "California nonprofit organizations now have a streamlined and faster way to get the papers they need to operate exempt from state taxes.

Until now, charitable organizations created for religious, educational, scientific or other philanthropic purposes had to formally file applications to operate tax-exempt with both the Internal Revenue Service and the state Franchise Tax Board. If approved, the group would get a 'determination letter' granting them tax-exempt status."

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