Can a sole proprietorship business own a non-profit orginzation?

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Can a sole proprietorship business own a non-profit orginzation?

Also, can a non-profit orginzation 501c3 make profit from services? The reason I ask because I want to open a non-profit freight brokerage to raise money for cancer under my current software business. Finally, can companies write off the money they spend on our services?

Asked on October 1, 2012 under Business Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Under the tax laws federally and at the state level a sole proprietorship can create a tax exempt corporation per guidelines under the Internal Revenue Service and operate it for a charitable purpose. Depending upon how the non-profit is structured, individuals and entities contributing to such can have a tax write off.

I suggest that you consult further with a business attorney who has experience in creating tax exempt entities.


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