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Printable Form 1023 Las Cruces New Mexico: What You Should Know
Registered agent. A Registered Agent is an agent that will receive all inquiries and communications about a specific organization (either its nonprofit status or the need for it under federal or state law) and forward them on to the governing legal entity. A Registered Agent will not be responsible for any transactions between the governing legal entity and the nonprofit, including any state, IRS, or other government agency matters. New Mexico Nonprofit Tax Exempt A nonprofit that meets the following criteria may be exempt from federal taxes. The IRS has determined that the following criteria will be met for these organizations: Formation date of organization; Form of organization (Form 1120 — NPO or Form 501(c)(3) — NPO); No more than 100 active, direct participants in all activities engaged in for more than 2,000 during each fiscal year (for non-cash activities, there must also be no more than 3 full-time employees for non-cash activities); Organizational revenue generated through all solicitation of personal services as described in IRC Section 7023 by any individual or corporation (not including non-cash activities, which are defined); No federal tax liability under Chapter 1, §501 of the Internal Revenue Code (IRC); A financial statement on file with the IRS; No direct or indirect financial interest, directly or indirectly, in any for-profit corporation which was formed or organized by any nonprofit organization and that is exempt from the provisions of the IRC Section 501(c)(3) during the 5-year period ending on the commencement of the organization, except: If the non-profit organization is incorporated; or Any partnership tax return; or Any return of an election or re-election to federal income tax-exempt status; or Any return to the IRS covering any period beginning after that date; or Any return by an organization formed or organized by any other organization, including a federal, state, or municipal income tax return issued by that organization; and that satisfies all the other requirements and is on file with the IRS. The IRS states that there will be “nothing in the rules that govern the recognition of tax-exempt status that precludes non-profit organizations from having certain tax-exempt activities.
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