When forming a Nonprofit Corporation in Florida, the following are the basic steps and overview of starting a nonprofit corporation in Florida. Chapter 617 of the Florida Statutes and the Florida Department of State's Division of Corporations both dictate many of the rules and regulations when establishing a non-profit corporation.
- Choose a business name - Your nonprofit's name must be different than other corporate names on file with the Secretary of State. The name must contain the terms "corporation," "incorporated," or their abbreviations, but not the term "company." A backup name is always recommended, just in case the State does not approve your initial request.
- Appoint directors - There must be at least three directors, age eighteen or older, for your nonprofit corporation. Directors do not have to reside in Florida, or have any specific experience.
- Incorporate your Nonprofit Organization - Prepare and file articles of incorporation with the Secretary of State. File your nonprofit corporation\'s articles of incorporation with the Florida Division of Corporations. It is important to emphasize your nonprofit purpose and make sure that your non-profit status is clear. An Annual Report must be filed with the Division of Corporations on a yearly basis, starting with one year after your date of incorporation
- Create the bylaws - The bylaws, typically set forth internal rules and procedures. Most bylaws include things such as the size, meeting place and time of the board of directors as well as how funds are handled. Bylaws are not required to be filed with the State of Florida, but a copy should be available at all times.
- Hold an organizational meeting - Once the entity is established, a meeting that sets forth the basics of the nonprofit should be held to get the ball rolling. Items such as corporate officers, budgeting, and overall goals should be addressed.
- Apply for your Employer Identification Number - The Employer Identification Number ("EIN") from the IRS is a unique number that identifies an organization to the IRS, similar to a social security number. Every organization must have an EIN, even if it does not have employees.
- Register with Florida State Offices Division of Consumer Services - Annual registration with the Florida Division of Consumer Services is necessary if the nonprofit intends to solicit any type of contributions from the public.
- Department of Revenue - Register for your nonprofit corporation\'s business taxes with the Florida Department of Revenue.
- Apply for tax exemptions - Upon incorporation of your nonprofit corporation, you can apply for different types of tax exemptions.
- Apply for section 501(c)(3) Tax Exemption with the IRS.</li>\r\n <li>This is a very time consuming process, and IRS has many helpful items to assist in this process.
- Florida sales tax exemption requires Form DR5: Application for a Consumer's Certificate of Exemption to be filed with the Florida Department of Revenue. For Florida income tax exemption, file Form 1120: Florida Corporate Income/Franchise and Emergency Excise Tax Return with the Florida Department of Revenue and include your federal determination letter form the IRS. Local exemptions vary, and may include items such as property taxes.