Establishments that serve public interests are called Non-Profit Organizations; this type of corporation does not pay tax. Such organizations focus on achieving different goals such as charity, research, religious or civil rights. The information on this website aligns towards non-profit activities. Donations made to such organizations by the public is deductible from taxes payable to the federal government.
In legal terms, nonprofit organizations use surplus funds after operational expenses to promote their cause. As such, they are not under the obligation to declare profits. Registration with the government is not compulsory for these types of organizations. However, a nonprofit that is not registered cannot access the privilege of tax exemption from the Internal Revenue Service. Besides the non-existence of shareholders, a registered nonprofit is quite similar to a for-profit organization. At inception, a nonprofit organization is legally required to file articles of incorporation with the state where the corporation is located or where it intends to carry out its activities. This procedure is the same with for-profit organizations. Although the requirements do differ from one state to another, most countries demand the constitution of a board of directors, officers of the corporation, by-laws and annual meetings. In many countries, it is compulsory to register with the state charity board or a parallel agency and adhere to specific requirements such as the filing of reports regarding fundraising activities. The designation of tax-exempt status to a nonprofit organization means that the organization is not under obligation to pay federal government income tax. Although most states and local authorities also give similar exemption from paying various taxes, it is not a rule of thumb because laws differ from one state to another. However, nonprofits do benefit from lower postal rates.
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AuthorYoel “Mo” Molina and I am a lifelong resident of Miami, Fl. I am a graduate of Miami Senior High, Class of 1992, Georgia Institute of Technology, B.S. 1997 and University of Maine School of Law, J.D. 2001. I have been practicing law in Miami Since 2001. I am a former training prosecutor in the Miami-Dade State Attorney’s Office. I have experience in jury trials, appeals, and administrative hearings. I have appeared before judges across the State. My experience ranges from civil litigation matters, collection matters, foreclosure, business and corporate, contracts, real estate, leases and employment matters.. Archives
December 2020
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"Mr. Molina has always been there for us with timely, reliable and competent advice. He is an important and valuable part of our team." Corporate Client Eric Delgado, President of American International Export, Inc., a worldwide importer and exporter of brand name appliance parts. |
"Yoel has been responsive and attentive to our company’s best interests and needs. He has been a valuable resource to our company. Any company that enlists his services would be in good hands-- including our own clients.” Corporate Client Gibran Flynn - Co-Owner and Founder of Eleva Solutions, Inc., the South Florida leader of outsourced HR, Staffing, Training, and Loss Prevention. |
"My name is Anastasia Yecke Gude and I am the owner of Healing Hands Therapeutic Massage LLC. In the process of my company’s growth and expansion, I suddenly found myself a few weeks ago in need of a 1099 contractor agreement, and I needed it ASAP. As in, the very next day! I contacted the Law Office of Yoel Molina and his assistant put me in touch with Mo. I sent him what I had drafted up and he replied within a few hours with suggested revisions and clarifications, as well as a few insights I had not even considered. I was thoroughly impressed by the quality of work he provided, especially considering the time crunch I put him in (sorry, Mo!). I definitely recommend his services to anyone in need of a good contract attorney, and I will be calling him again for future work…hopefully in less of a rush next time!"
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