Re: JPOR: Incorporate our club??

[Jim Barlow <barlow@xxxxxxx>]

Perk wrote:
>
> ****************Please Remember to snip your replies***************
> We've been advised to incorporate our club by a lawyer that we've hired
> for some legaleze wordage.
>
> Does anyone on the list do this stuff for a living, or have any
> experience with what we're trying to do?
>
> Please respond directly to sperkio@earthlink.net
>
> Thanks
> --
> Perk
> http://www.off-road.com/~ie4w/
> http://www.off-road.com/~perkio/
> *******************************************************************
>      Link to Archive, Mission Statement, Rules, Subscribe and
>            Unsubscribe instructions  are available at:
>              http://www.pclink.com/jnutter/JPOR.htm
Our club is in the process of doing this.  We are incorporated and will
do the non-profit stuff later (You have something like 15 mos).  Here's
is some information that a friend (he's a tax lawyer) of mine sent me.
The cost of incorporating was only about $50, it varies from state to
state.

You can get a taxpayer i.d. by completing the Form SS-4 and returning it
to
your IRS Service Center (where you send your tax return).  This form and
the instructions for completing it are available at www.irs.gov - click
on
Forms and Publications

You need to set up your club as a tax-exempt organization under Section
501(c)(7) of the Internal Revenue Code.  In order to do so, you'll need
to
spend some time completing the paperwork to qualify - you'll need to set
up
a corporation with the Indiana Secretary of State, which will probably
cost
a few hundred dollars and will require the filing of annual reports.
You'll then have to apply for tax-exempt status from the IRS.  I can
send
you some info regarding this and some forms for a corporate charter,
bylaws, etc.

You may want to check around locally to see if there is any guidance on
starting a tax-exempt organization in your area - people there will have
a
better idea as to the local and state requirements if any.

Jim Barlow
'97 TJ