Once I secure the ein are there any other guidelines I need to follow? as far as taxes / state laws?
2006-11-27 06:10:16 · 1 answers · asked by Nora D 1 in Business & Finance ➔ Small Business
Absolutely not since the fundraiser enterprise would operate as a not for profit venture and is within the scope of section 501c. These types of entities are tax exempt and get their special ID numbers.
If you do not wish to keep the LLC, you need to dissolve it by filing dissolution with the state and notifying the IRS. This triggers a final tax billing to be sent to you and the EIN is cancelled.
EIN are issued for profit ventures only....please register the fundraiser seperately as a charity ands get a tax exemption form from the IRS.....do not under any circumstances use the LLC either as a parent company or its EIN...
2006-11-27 06:23:03 · answer #1 · answered by boston857 5 · 0⤊ 0⤋