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Form 990-EZ Texas Dallas: What You Should Know
Organizations can submit Form 990-N electronically to the Texas Secretary of State, Cancel a non-Texas organization's registration with the Texas Secretary of State before filing Form 990 or Form 990-EZ, Pay-Pal is the most popular way for most nonprofits to pay. Nonprofit Foundations Fundraising Requirements for Organizations Texas law allows Texas charitable organizations to issue tax-exempt bonds to raise money for any charitable purpose, “including any activity designed to improve the quality of life or the environment.” The law defines a charity as an organization “exclusively devoted to charitable, philanthropic or benevolent purposes,” or an organization that is, within 60 days of becoming a Texas charitable organization, “not disqualified from doing business in this state” as defined in House Bill 2165. The Texas Attorney General's office is responsible for enforcing the law that allows a charitable organization to issue tax-exempt bonds. Nonprofit and Charitable Foundation Tax-Exempt Bonds Nonprofit foundations may also obtain tax-exempt bonds. Under Texas law, nonprofits may issue bonds only through a private foundation. A foundation is defined as “a nonprofit organization or foundation that is established primarily to preserve, protect and care for its own assets.” Texas Charitable Foundations Texas Charitable Foundations must disclose to the Texas public and the Internal Revenue Service “facts and figures about” each state-related entity they control or have rights to control through their charitable status. Individuals, limited liability companies, partnerships, professional tax-exempt organizations (and their tax-exempt or nonprofit corporations if formed in Texas) that issue tax-exempt bonds in Texas must have no more than one shareholder unless the entity has fewer than 25 shareholders. Texas Charitable Foundations' Tax Information Foundation Tax Exempt Bonds Foundation Tax Exempt Bonds are issued to qualified Texas charities, nonprofit organizations formed primarily for charitable, philanthropic or benevolent purposes and other exempt organizations with a net worth of 50,000 or less. These bonds are required to be held in the name of the foundation. An entity that applies to issue bonds as a corporate entity must obtain authority from the Texas Secretary of State. Texas charitable foundations can issue tax-exempt bonds only once.
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