tailieunhanh - Gale Encyclopedia Of American Law 3Rd Edition Volume 7 P31

Gale Encyclopedia of American Law Volume 7 P31 fully illuminates today's leading cases, major statutes, legal terms and concepts, notable persons involved with the law, important documents and more. Legal issues are fully discussed in easy-to-understand language, including such high-profile topics as the Americans with Disabilities Act, capital punishment, domestic violence, gay and lesbian rights, physician-assisted suicide and thousands more. | 288 NONPROFIT National Nonprofit Associations by Number and Type in 2009 aIncludes national and binational chambers of commerce and tourism. source The Gale Group Encyclopedia of Associations 2009. ILLUSTRATION BY GGS CREATIVE RESOURCES. REPRODUCED BY PERMISSION OF GALE A PART OF CENGAGE LEARNING. of incorporation conduct regular meetings and fulfill other obligations to achieve and maintain corporate status. Nonprofit corporations differ from profit-driven corporations in several respects. The most basic difference is that nonprofit corporations cannot operate for profit. That is they cannot distribute corporate income to shareholders. The funds acquired by nonprofit corporations must stay within the corporate accounts to pay for reasonable salaries expenses and the activities of the corporation. If the income of a corporation inures to the personal benefit of any individual the corporation is considered to be profit driven. Salaries are not considered personal benefits because they are necessary for the operation of the corporation. An excessive salary however may cause a corporation to lose its nonprofit status. Nonprofit corporations are exempt from the income taxes that affect other corporations but only if they conduct business exclusively for the benefit of the general public. State laws on corporations vary from state to state but generally states give tax breaks and exemptions to nonprofit corporations that are organized and operated exclusively for either a religious charitable scientific public safety literary or educational purpose or for the purpose of fostering international sports or preventing cruelty to children or animals. Nonprofit organizations may charge money for their services and contributions to tax-exempt nonprofit organizations are tax deductible. The internal revenue service must approve the tax-exempt status of all nonprofit organizations except churches. A vast number of organizations qualify for nonprofit status under the various .

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