What's the Difference Between a 501(c)(3) Organization and a Corporation?

There are generally two types of corporations you can create under state law: the stock corporation, and the non-stock corporation.

Non-stock corporations are generally organized with a non-profit motive and go on to file for tax exempt status with the IRS. The 501(c)(3) organization is one type of tax exempt organization.

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#IRS #Nonprofit #501c3

DISCLAIMER: I am a licensed attorney and certified public accountant (CPA) in the State of Florida. I am not a financial advisor. The information provided in this video is for entertainment purposes only. No such communication is provided in the course of an attorney-client relationship, and no communication is intended to constitute legal advice. You should speak with your own tax and legal professionals to discuss your circumstances before performing any of the tax, legal or accounting strategies demonstrated in this video. Thank you.