Josh Wagner, Principal
413 Western Drive #15
Santa Cruz, CA 95060-3078
ph 831-423-two-3-two-3
fax 831-401-one-zero-eight-two
joshwagner@aol.com

¡HABLAMOS ESPAÑOL!

 

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    Friday
    Nov052010

    A Happy Ending?

    Regarding our 9-3-2010 post of the Franchise Tax Board essentially nullifying a non profit organization's existence simply because it showed no fiscal activity for a few years . . . Ed Diala, examiner with the Exempt Unit of the Franchise Tax Board, confirmed that if we submitted some minutes of meetings for the years in question (2006-2009) demonstrating the actions that the Board had taken to keep the organization active . . . AND if we re-submitted FTB Form 3500 (the state exemption application), then he would consider returning the organization back to exempt status retroactively.

    But a word to the wise: Don't show zero fiscal activity on your annual report to the Calif. Attorney General. Make sure that, even if it means donating from your own pocket, your non profit shows some kind of income each year (I'm talking about even a very small amount!).

    Anyway, I'll let you know when the non profit in question gets restored to full exempt status . . . right now it seems like it's just a question of time.