Does nonprofit corporation pay a salary to its employees?
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jamie
Apprentice
Joined: 30 Sep 2007
Posts: 1
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 Posted: 07/28/08 - 05:44 Post subject: |
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| I have started a business and it is nonprofit. I will be mostly in trading and I seek to assure the best possible position. I would like to know does nonprofit corporation pay a salary to its employees. If anyone could help me that matter, it would be great. Thanks in advance. It really means a lot. |
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jacob
Apprentice
Joined: 25 May 2007
Posts: 3
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| Posted: 08/27/08 - 01:08 Post subject: |
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| Being in nonprofit business is indeed one pretty tough thing to do. You need a lot of knowledge, a lot of skill and courage to make the right moves. On the other hand, it is not just that. Nonprofit has a lot of restrictions. You pay your workers, but you are tax exempt from any profit. Also, you may indeed pay even for some political contributions, though you will have to look for restrictions with your tax office. On the other hand, investigating affairs of the nonprofit organization is not a duty of any service, but strictly of the attorney general. Hope you find the info helpful. |
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