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egyptballer
07-01-2009, 12:16 AM
:sl:


I was wondering what a tax exempt number was.
Wikipedia: A tax exemption is an exemption from all or certain taxes of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone.
Can someone give me an example?insh'Allah. Also this isn't off-topic it actually is very important to me.:D
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aadil77
07-01-2009, 09:30 AM
its probably a tax code which you give to the Gov't so that they can stop taking tax from you for whatever circumstances. don't know any example of numbers but theres different tax codes for income tax which depend on how much you earn
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egyptballer
07-01-2009, 08:48 PM
Is 501(c)(3) a tax exempt number?Where are all the law-savvy members?imsad
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Woodrow
07-01-2009, 09:00 PM
Originally Posted by egyptballer
Is 501(c)(3) a tax exempt number?Where are all the law-savvy members?imsad
Here in the USA there are numerous tax forms. Different tax exempt organizations have to file very specific forms to claim their exemptions 501(c)(3) is the ruling used for charitable, non-profit and some religious organizations.

To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition, it may not be an action organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.
See the whole article: http://www.irs.gov/charities/charita...=96099,00.html
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egyptballer
07-01-2009, 09:40 PM
Here in the USA there are numerous tax forms. Different tax exempt organizations have to file very specific forms to claim their exemptions 501(c)(3) is the ruling used for charitable, non-profit and some religious organizations.
JazakrAllah Khair,I am still wondering if it is a Tax Exempt Number though.I need this to fill out a form.One of the spaces it says:

Tax Exempt # __________________

So I was wondering if I can put 501(c)(3).
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Woodrow
07-02-2009, 12:27 AM
Originally Posted by egyptballer
JazakrAllah Khair,I am still wondering if it is a Tax Exempt Number though.I need this to fill out a form.One of the spaces it says:

Tax Exempt # __________________

So I was wondering if I can put 501(c)(3).
:D

That will be your corporate ID number or if you are not incorporated your Federal Tax ID number, which is usually the SSN Number of the primary owner of an unincorporated company.

It is far better to get incorporated and have the corporation as a separate entity. This removes any person from personal liability if for some reason the corporation gets into financial trouble.
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egyptballer
07-02-2009, 08:54 PM

That will be your corporate ID number or if you are not incorporated your Federal Tax ID number, which is usually the SSN Number of the primary owner of an unincorporated company.

It is far better to get incorporated and have the corporation as a separate entity. This removes any person from personal liability if for some reason the corporation gets into financial trouble.
Man you make me have to spill the beans.:omg:

The organization is already made I just need to know if I can put 501(c)(3) on my volunteering sheet.:exhausted

lol
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Woodrow
07-03-2009, 12:41 AM
Originally Posted by egyptballer
Man you make me have to spill the beans.:omg:

The organization is already made I just need to know if I can put 501(c)(3) on my volunteering sheet.:exhausted

lol
Nope, it will have to be either a Tax Exempt Federal ID number or your social security number. You need to gtwith the IRS and request a Fed Tax Exempt ID if you intend to do this again or anytime in the future. The Fed ID number will last for the rest of your life. I have several from various companies I owned at different times and some personal ones I used for a consulting service I hd.
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Woodrow
07-03-2009, 12:47 AM
Word of caution, you do have to file with the IRS for your ID to be given tax-exempt status. Until you file and get approved you do not have a Tax Exempt number.
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egyptballer
07-05-2009, 03:48 PM
Originally Posted by Woodrow
Nope, it will have to be either a Tax Exempt Federal ID number or your social security number. You need to gtwith the IRS and request a Fed Tax Exempt ID if you intend to do this again or anytime in the future. The Fed ID number will last for the rest of your life. I have several from various companies I owned at different times and some personal ones I used for a consulting service I hd.
Where do I find the Tax Exempt Federal ID number of an organization?
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Woodrow
07-05-2009, 05:58 PM
Originally Posted by egyptballer
Where do I find the Tax Exempt Federal ID number of an organization?
It should be in several places:

1. In the corporate charter

2. On any sales receipts of items purchased in the past

3. Often on the company letter head

4. In any letter sent to or received from the IRS

5. Filed in the local tax office

6. On any Licensing permit they have

7. The Social Security Number of the organizations head.
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