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Oakland Michigan online Form 1023: What You Should Know
You may send Form 1023-EZ to: OCCE, Mail Stop E-935, 1101 E 3rd Street, Suite 500, Des Moines Iowa 52240, or click this link: Streamlined Application for Recognition under Section 501(c)(3), Application Streamlined Application for Recognition of Exemption Under About Form 1023-EZ, Streamlined Application for Recognition Under • • • This is a special one-pager to guide organizations who are not currently recognized by the California Franchise Tax Board (FT) as the governing body of the organization in this State of California. What is Form 1023-EZ? Here is a look at the requirements for this form. If your organization meets this requirement, the first step is to register your name/organization with the OCCE. All organizations and all people registered to a name with the OCCE, are entitled to receive the following benefits under Section 501(c)(3). Section 501(c)(3) Organizations registered with the OCCE are recognized under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. A person who is engaged solely in his commercial activity (other than an exempt activity) is exempted from taxation on all net income. The income from that activity (whether from a commercial activity or from a non-commercial activity) may be exempt from federal tax (Title 26, Internal Revenue Code) if the income is from a source without regard to the place of acquisition. If the income of the organization is derived from a commercial activity, and would not otherwise be exempt from taxation, the organization may be eligible for tax-exempt status under Chapter 4 of the Internal Revenue Code (subchapter S). A person who is exempt from United States taxation under § 501(c)(3) but who would otherwise have to pay tax on income is able to claim a deduction of 50% of his income with respect to that section. You need to be registered as a business in this State to benefit from this exemption. A person who is taxed under the Internal Revenue Code (and whose income or losses do not exceed the amount specified in chapter 1 of the Internal Revenue Code) is entitled to tax exemption for foreign income without regard to whether the income is from a United States source.
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