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Form 706-NA for Orlando Florida: What You Should Know
The return (Form 706-NA) is mailed to the Florida State Department of Revenue within five years after the date of filing the application for a Florida estate tax return. Florida State Exempt Organizations Nonresident aliens (and for nonresidents who are married, married filing jointly or unmarried, married or single) may form a Florida organization under Sec. 501(c)4 of the IRS Code. There are no penalties, but the nonresident must comply with the Florida nonprofit rules and reporting requirements. If you choose to form a Florida nonprofit organization, you are eligible to be considered a state organization (under Sec. 501(c)) if: You elect a state exemption designation of 5,000 or more for an individual or to be considered a state organization under Sec. 501(c)4 for a group of two or more individuals. You maintain a permanent establishment or branch in Florida. You have an exemption designation which exceeds 5,000. As your organization grows, you may be eligible to be recognized under Sec. 501(c)5 by making an application to the state. Any qualified organization will receive tax-exempt status, which will allow it to do any of the following: Operate for the promotion of social welfare by performing programs and duties prescribed by law, or performing such other acts as an exempted entity, subject to the provisions set forth in the governing statute and in the rules of an administrative officer (as defined in Sec. 501(b)) established by Florida statute at a hearing of the administrative officer, on the recommendation of the State Board of Exempt Organizations pursuant to Sec. 501(h). (a) Exemption shall not be granted to organizations that would be treated as taxable pursuant to this section if such organizations were included within the boundaries of the United States, unless the organization has received the recommendation of a State administrative officer, at a hearing of the administrative officer (as so described) at which such organization is an applicant pursuant to subsection (b), that the organization has been found by such officer to be a proper agency of social welfare and is conducting its operations in accordance with the provisions of Chapter 712 of the Florida Statutes. Operate as a not-for-profit corporation, or as a governmental unit. Provide exempt services or supplies in the ordinary course of its business as a not-for-profit corporation or governmental unit.
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