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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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