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  #9  
Old March 6th 04, 09:27 PM
Tony Cox
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"Robert M. Gary" wrote in message
om...

But since the fed's don't have a minimum tax, no one cares about
federal status.


You should, because they'll want at least 15% of your
retained earnings if you don't obtain non-profit status.

Unless of course you have a company that is paying
saleries, etc.


That has nothing to do with anything. Paying salaries
(and those filing requirements) are the same regardless
of profit or non-profit, corporation, partnership or
whatnot.

Please do yourself a favour, now that you have your
corporation and plane, by reading up on exactly what
you've let yourself in for. Nolo press have a good
selection of guides and books at www.nolo.com.
Setting out on the right foot will be cheaper and less
hassle than trying to correct mistakes later on.


 




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