Starting a nonprofit organization in Louisiana requires careful planning and compliance with state and federal regulations. To form a nonprofit corporation in Monroe, LA, you must first name your organization, prepare and submit the articles of incorporation, submit it to the Mortgage Registrar, get an Employer Identification Number (EIN), and obtain any necessary business licenses. Additionally, you must include certain provisions in your articles to meet the IRS requirements for a 501(c) tax exemption. The name of your nonprofit corporation cannot match the name of another corporation or limited liability company, nor the trade name registered in the files of the Louisiana Secretary of State.
To create a tax-exempt nonprofit organization under Law 501v3 in Louisiana, you must first create a nonprofit organization in Louisiana in accordance with state regulations, and then apply for 501v3 certification with the IRS. In addition to what state law requires in your articles, you will need to include certain provisions in your articles to meet the IRS requirements for a 501(c) tax exemption. In Louisiana, your nonprofit corporation cannot contain the words bank, bank, savings, trust, deposit, insurance, mutual insurance, insurance, severance, indemnity, fortuitous event, trust, family property, building and loan, bond, guarantee, cooperative, state, parish, redevelopment corporation, electric cooperative, or credit union. A conflict of interest policy ensures that any decision made by those in power (such as the board of directors) is not made in a way that harms the nonprofit organization to benefit an individual. You must draft statutes that comply with Louisiana law and that contain the rules and procedures that your company will follow to hold meetings, elect officers and directors, and carry out other corporate procedures required in Louisiana. Once a nonprofit corporation has been formed and obtained tax exemption and other necessary requirements, these states must be maintained.
Generally, nonprofit businesses don't have to pay income taxes but you must apply for this status at both the state and federal levels. To declare Louisiana state taxes as a nonprofit corporation you need a state tax identification number in addition to the one from the IRS. Most nonprofit organizations are headquartered in New Orleans but some are also located in areas such as Baton Rouge, Shreveport, Lafayette and Monroe. Depending on your location and type of nonprofit organization you may need one or more business licenses. You don't need to obtain a statewide business license but each town and city in Louisiana can impose their own licensing requirements.
Check with your city's commercial division for more information. You can decide to open your nonprofit organization in one of these busy cities or you can choose to open in a smaller town like Hammond or Houma. There are already many educational and religious organizations but in the state there are fewer non-profit organizations dedicated to research in the social or medical sciences with an international focus.