Fenny the Fox
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- Apr 21, 2009
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Are there any basic rules that a non-profit company must follow to be considered non-profit? Both for-profit and non-profit companies have employees that get salaries, so individual workers are still making profit.
Are there salary caps or anything like that? Are televangelists and mega churches that get rich considered non-profits, or no?
-Lyn
Well, employees of non-profits are required to file income tax, therefore, the payment to employees is still taxed.
As for guidelines, there are a number. But I honestly am not sure what all of them are.
Also, the tax exempt status gets confusing. There is exemption at state level, and then at federal level. So, not all are exempt from federal income tax, but they may be exempt from state level property tax and the like. It is really a confusing business, at least to me.
And...sorry I can't really tell you more. I don't study law, let alone tax law, so I am not all that certain I would get it right if I said any more than what I have. But what I have said, I know for sure is right.
Anyone else know this stuff better?
As for the televangelists and mega-churches: most of the time, they get rich by not filing correct federal income tax information (give much lower figures than reality, etc). And/or by actually stealing from the church/ministry. It is, all around, just really bad.
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