We're examining our tax status and are looking to see how other teams handle this. We're wondering what the tax status is of other teams (tax exempt vs. non-tax exempt), whether they are 501(c)3 corporations (i.e. tax exempt and contributions to the team are tax deductible), or are some other type of non-profit (tax exempt but contributions would not be tax deductible). I would also like to hear about any experiences people have had regarding establishing a tax exempt status, whether 501(c)3 or some other form. Specifically, what kind of tax exempt oragnization are you, did you encounter any particular difficulties establishing your tax exempt status, do you have any advice about the best way to establish tax exempt status?
Thanks in advance,
Team Roaring Mouse