State Income & Sales Tax Exemption

While IRS 501c status provides tax-exemption from federal taxes, it does not cover state taxes. Most states require additional applications to exempt the organization from state income and sales taxes.

In some states, corporate income tax is automatically exempt when the IRS determines 501c status. However, there are many states where that is not the case. Additionally, almost every state requires an application for sales tax exemption. Sales tax exemptions remove sales tax from purchases made by the organization.

In almost every case, state and sales tax exemptions require the IRS Letter of Determination before filing. However, failure to remember to file can risk the organization paying corporate income taxes. Plus, the savings possible from the point-of-sale purchases could potentially save the organization significant money in your budget.

Want to ensure you remember to file the necessary documents on time? BryteBridge offers a Concierge service to walk our clients through every step of the startup process. We remember the details so you can focus on carrying out the organization’s mission.

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