How to get incorporated

[PenguinTrax]

Don't forget that if you incorporate in your state, you may be required to register and apply to be a federal non-profit (501c3) which is a time consuming and often costly process. In addition, you will be responsible for submitting income statements and reports to the IRS. For this you really need to have an attorney on retainer and probably a tax accountant as well.

[kddani]

Originally Posted by PenguinTrax

Don't forget that if you incorporate in your state, you may be required to register and apply to be a federal non-profit (501c3) which is a time consuming and often costly process. In addition, you will be responsible for submitting income statements and reports to the IRS. For this you really need to have an attorney on retainer and probably a tax accountant as well.

Yep.

To incorporate and to be a non-profit, it's going to cost money. As a new organization, you may not have a lot of money, but if you want it to be a lasting organization, these are important things to take care of.

I'm guessing that you're all college kids. Not only do you have the stress and time consumption of starting a new group and all that involves- recruiting members, activities, etc., but you're also college kids who are there to get an education. Many of you also work. To get yourselves to the level of knowledge where you could do this on your own (AND DO IT RIGHT!) would be very time consuming and stressful. So you really have to weigh things.

[Senusret I]

Originally Posted by PenguinTrax

Don't forget that if you incorporate in your state, you may be required to register and apply to be a federal non-profit (501c3) which is a time consuming and often costly process. In addition, you will be responsible for submitting income statements and reports to the IRS. For this you really need to have an attorney on retainer and probably a tax accountant as well.

Aren't fraternities and sororities 501c7s?

[kddani]

Originally Posted by Senusret I

Aren't fraternities and sororities 501c7s?

Wonder if anything would be different because this is a Christian-based group.

[PreppyTriDelta]

Do not use an internet legal site. They are wrong most of the time.

Seek out alums first. I bet there is a tax attorney who can help you out. Accountants are not a good source. They try to do legal docs, but are not authorized to do so in many instances. It is risky. Too mant accountants try to go too far.

Also, you may be able to have someone help you out for free. I do it all the time if it is easy work, like this would be.

good luck.

[blueangel]

Originally Posted by PreppyTriDelta

Do not use an internet legal site. They are wrong most of the time..

Just curious... On what do you base that on? Have you had a bad experience? If so, which site?

Seek out alums first. I bet there is a tax attorney who can help you out.

Excellent idea. If the OP goes to a big University, there might also be some free legal help available at the law school. There might also be some free accounting help at the school's financial dept.

Accountants are not a good source. They try to do legal docs, but are not authorized to do so in many instances. It is risky. Too mant accountants try to go too far.

Incorporating isn't as difficult as it sounds. It's really quite straight forward.
With the advent of state sites which will walk you through the process step-by-step, it's really surprisingly easy. But as Kddani said, if you're not comfortable with the process, best to seek out professional legal help.

An accountant doesn't need to set up your corporation-- but he or she would be good to consult regarding tax issues.

[PenguinTrax]

Originally Posted by Senusret I

Aren't fraternities and sororities 501c7s?

It all depends on how they are incorporated and how they file with the IRS.

[Tom Earp]

Before you contact a lawyer which will charge you $$$$. Contact the Secretary of State Office. It is usually a toll free number. Check the Yelloow Pages for Government.

They can tell you a heck of a lot more and cheaper than screwing with a lawyer.

It usually is @ $25.00 depending on the state.