What Do I Need to Know Before Starting a Nonprofit Corporation in Georgia?
Whether starting a for-profit or non-profit corporation, you still need to follow the rules set forth in Georgia pertaining to business formation. Consulting with experienced Georgia corporate and nonprofit lawyers early in the process can educate you on all issues you need to consider and help ensure the best start for your nonprofit corporation.
Starting a nonprofit corporation involves detailed filing requirements similar to those required for-profit corporations, including naming the business, preparing and filing articles of incorporation, designating officers and issuing public notice of the intent to incorporate. However, while these all represent the requirements set forth by the Corporations Division of the State of Georgia Office of Secretary of State, they do not help ensure the success of your business. For success, you need to go through the exercise of envisioning your goals and how you plan to meet them. Developing a detailed business plan provides a means of forecasting every detail, and it can help significantly when you attempt to seek funding for your venture.
Tax considerations also play a major role in your plans because nonprofit corporations are not automatically tax-exempt under the law. To pursue tax-exempt status, Georgia nonprofits need to address Internal Revenue Service filing requirements while pursuing incorporation within the state of Georgia.
The attorneys at Meadows & Macie, P.C. have extensive experience helping individuals address the planning and the legal requirements for starting any business, including nonprofits. We provide valuable assistance at any point in the lifecycle of your business to meet a wide array of legal needs.