Orange County NC Website
Browse       Search
DocuSign Envelope ID: F6F24E9A-E685-4D51-AA37-BB7ACA9A687F <br /> a <br /> If your gross receipts each year are normally more than $5,000, <br /> you are required to .file Form 990, Return of Organization Exempt <br /> From income Tax, by the 15th day of the fifth month after the end <br /> of your annual accounting period. The law imposes a penalty of $10 <br /> a day, up to a maximum of $5,.000, for failure to file a return on time. <br /> You are not required to file Federal income tax returns unless <br /> you are subject to the tax on unrelated business income under section <br /> 511 of the Code. If you are subject to this tax, you must file an income <br /> tax return on Form 990—T. In this letter we are not determining whether <br /> any of your present or proposed activities are unrelated trade or <br /> business as defined in section 513 of the Code. <br /> You need an employer identification number even if you have no <br /> employees, If an employer identification number was not entered on <br /> your applioation, a number will be assigned to you and you will be <br /> advised of it. Please use that number on all returns you file and in <br /> all correspondence with the Internal Revenue Service, <br /> Please keep this determination letter in your permanent records, <br /> Sincerely yours, <br /> )'x pt Organization Specialist <br /> { 404-526-4516 <br /> This determination letter is issued frith the understanding that the <br /> school, will. schedule all classes determine and collect fees for the <br /> classes, and pay the instructors a sala><y not to exceed reasonable <br /> compensation for services performed. i <br /> c <br /> This ruling is based on evidence that you have a raci.al_ly nondiscriminatory <br /> policy as to students. Revenue Procedure 75--501 IRB 1975--49r page 46, <br /> sets forth guidelines and recordkeeping requirements fqr determining <br /> whether private schools have racially nondiscriminatory policies as to <br /> students. To insure your continued exemption, you should maintain <br /> records. to show that you are in compliance with all \of the requirements <br /> of Revenue Procedure 75-50. <br /> i <br /> This determination letter modifies our letter of September 7, 1976 <br /> holding you exempt under section 501(c)(3) to the extent that it is <br /> inconsistent with this letter. .. <br /> Form L-178 {Rev. &-731 <br />