As we tweeted earlier this week, if your nonprofit operating or incorporated in California has not filed its Franchise Tax Board (FTB) Form 199 recently, now is the time to do so. Come September, 2013, the FTB will start automatically revoking those exempt organizations that have not filed a series 199 for three years in a row. In other words, the FTB is about to do to non-filing CA nonprofits exactly what the IRS started doing two years ago.
It’s not only large organizations that must file. Organizations with average gross receipts of less than $50,000 are required to file the Form 199N electronic postcard. We promise it’s simple.
If you have any questions about filing your organization’s state or federal returns or complying with other ongoing requirements, contact us or your organization’s accountant.