Follow this advice to maintain your Nevada 501(c)(3) Nonprofit Public Charity in good standing.
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8 Ways to Keep Your Nonprofit Legal
In order to keep a 501(c)(3) nonprofit company in Nevada, you must:
Apply for a state tax exemption.
Tax-exempt organisations must file annual federal returns.
Keep a Registered Agent on file.
Submit periodic reports
Request permissions and licences
Register your charitable organisation with the Nevada Employment Security Division.
Follow the Public Inspection Rules.
1. Apply for a state tax exemption.
A. Exemption from state income taxes
There is no business income tax in Nevada.
B. Exemption from state sales tax
To apply for a sales tax exemption, complete and send form APP-02.01 to:
Nevada Department of Taxation, 1550 College Parkway, Suite 115, Carson City, Nevada 89706-7921.
2. Tax-exempt Organizations’ Annual Federal Returns
A. Federal Annual Returns
The IRS requires most tax-exempt charitable organisations to submit an annual return (Check the IRS website for a list of exceptions).
An organization’s yearly gross receipts dictate which form should be utilised to submit the annual federal return.
The IRS defines ‘gross receipt’ as “the total sums the organisation received from all sources throughout its yearly accounting period, before deducting any expenditures or expenses.”
B. Unrelated Business Profits
If an organisation earns more than $1,000 from a trade or company that is unrelated to the organization’s declared purpose, it must submit Form 990-T to pay taxes on that revenue.
If your organisation anticipates to pay $500 or more in unrelated business income taxes for the year, you must pay a quarterly estimated tax on the unrelated business income using Form 990-W.
3. Keep a Registered Agent.
Any incorporated nonprofit must have a registered agent with a Nevada office address. If you change your registered agent or their office location, you must submit a Statement of Change of Registered Agent with the Secretary of State so that your Articles of Incorporation may be revised.
Your company may be terminated if you fail to inform the Secretary of State of this change.
4. Submit Periodic Reports
Every year, nonprofits must submit a list of its officers and directors to the Nevada Secretary of State by the last day of their incorporation anniversary month.
Failure to submit the required reports may result in the termination of your company.
5. Obtain Permits and Licenses
The vast majority of Nevada organisations will be free from the need of acquiring a regular business licence. Nonprofits seeking exemption must file a Declaration of Eligibility for State Business License Exemption with the Nevada Secretary of State.
EXEMPTION FROM STATE BUSINESS LICENSE 202 North Carson Street Carson City, Nevada 89701-4201
(775) 684-5708 for further information; www.nvsos.gov
If your nonprofit intends to hold charity games or lotteries of any type, you should check the material given by the Nevada Gaming Commission to discover which licences your organisation need.
6. Registration of Charities
Before participating in solicitation operations, charitable Nevada charities must file a Charitable Solicitation Registration Statement with the Nevada Secretary of State. This registration must be renewed by your organisation each year.
7. Apply to the Nevada Employment Security Division.
If your organisation intends to hire people, you must register with the Nevada Employment Security Division.
Registration is simple and may be done online. You may also find contact information on the Employment Security Division’s website.
8. Obey Public Inspection Rules
To comply with federal requirements governing 501(c)(3) organisations, you must make the following papers available to any member of the public who wants them:
Annual returns for your organisation may be filed up to three years after the due date (including the following Forms: 990-PF, 990-EZ, 990-T, and 990)
Any supporting documentation and attachments for the 990 forms listed above. For Schedule B, however, you simply need to indicate the kind of the gift and the amount given.
Official IRS documentation demonstrating that your group is tax-exempt.
Your organization’s exemption application and any supporting documentation filed with it (including Form 1023).
Your company is NOT required to share the following papers or information with the general public:
Any part of Schedule B of Form 990/990-EZ that names donors.
Anything deemed an adverse judgement, including past rejections of tax-exempt status.
Any extra information that the IRS is entitled to withhold, such as trade secrets, patents, and so forth.