Posts Tagged: Franchise Tax Board

State Exemption Simplified

December 4, 2013 Posted by Jessica Shofler in News, Taxes

California recognizes organizations exempt under section 501(c)(3) of the Internal Revenue Code (“IRC”) as automatically exempt for California income and franchise tax purposes. But currently the Franchise Tax Board (“FTB”) doesn’t extend the same courtesy to other types of 501(c) organizations. This means that those organizations must complete a lengthy exemption application to achieve state …


Free Tax Seminar for Nonprofits

Representatives from the Board of Equalization, Employment Development Department, Franchise Tax Board, and Attorney General’s Office are coming together to talk about nonprofit and exempt organizations this Tuesday, September 17, 2013 in Lake Forest. Although a hike for some, this tax seminar should be well worth it for all nonprofit managers. There will be presentations …


FTB Annual Filing Requirements Just Got Easier for Small Nonprofits

October 12, 2012 Posted by The Law Firm for Non-Profits, P.C. in News, Taxes

Recently, the IRS changed its filing requirements to include a very simple option for organizations with gross receipts of not more than $50,000. But, until now, the Franchise Tax Board has only offered the simplified version of its annual filing to those organizations with gross receipts of not more than $25,000. With the passing of …


Nonprofit Volunteers to Become Mandatory Reporters

February 21, 2012 Posted by The Law Firm for Non-Profits, P.C. in News

If you are involved with or volunteer for a charity providing services to kids, there is a new bill moving through the legislature that you need to know about. The bill expands mandatory reporters of child abuse to include volunteers at nonprofit organizations. Failure to report is a crime punishable by imprisonment for 6 months, …


Are You Using the Right Forms?

January 26, 2012 Posted by The Law Firm for Non-Profits, P.C. in News, Taxes

Government agencies often update their forms without providing much notice. It is important that someone in your organization check regularly (at least annually, ideally more frequently) to ensure the organization is filing using the most up-to-date forms available. Failure to use a current form can result in rejection of the filing and late filing penalties. …