How to Reinstate a Revoked 501(c)(3) Status

As a 501(c)(3) nonprofit, an organization does not have to pay federal income tax on its profits related to its business purpose. That’s an important advantage as it allows organizations to keep more of their profits and use them to further their causes. However, if a nonprofit organization fails to file the required reports [...] The post How to Reinstate a Revoked 501(c)(3) Status appeared first on CorpNet.
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CorpNet Named to Inc. 5000 List for 2021

CorpNet is proud to announce that it has made Inc. Magazine’s prestigious “Inc. 5000” list for 2021. As an Inc. 5000 honoree, we have been recognized as one of the fastest-growing private companies in America. During a stretch when the economy experienced limited growth, CorpNet achieved 120% revenue growth over the past three years. [...] The post CorpNet Named to Inc. 5000 List for 2021 appeared first on CorpNet.
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What Is an Annual Franchise Tax Report?

Not all, but some states require business entities to file an annual report and pay a franchise tax each year. While the name suggests that a franchise tax report might only apply to businesses that are franchises, that’s not the case! A franchise tax is a fee that companies pay for the privilege of [...] The post What Is an Annual Franchise Tax Report? appeared first on CorpNet.
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Filing an Intent to Use Trademark Application

Choosing the perfect business or brand name is only half the battle when starting a new venture. You need to protect that name from getting stolen or misused. But what if you haven’t started using the brand name yet? The good news is even if your website is still under construction and marketing materials [...] The post Filing an Intent to Use Trademark Application appeared first on CorpNet.
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Back to School, Back to Your Business

Schools will soon be back in session across our country. COVID-19 continues to present challenges — and debates over our children’s learning environment. However, we see some glimpses of our former “normal” as most schools are transitioning from virtual and hybrid classes back to in-person learning. Also, at this time, business owners who have [...] The post Back to School, Back to Your Business appeared first on CorpNet.
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How to Revoke an S Corp Election

Many limited liability companies (LLCs) and C Corporations choose to be taxed as S Corporations to lower their tax burden. It’s relatively easy to do as long as the business entity meets IRS requirements and files Form 2553. But what happens if a business owner finds an S Corp hasn’t worked to their advantage? [...] The post How to Revoke an S Corp Election appeared first on CorpNet.
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Which LLC Is Right for Me?

Just as there are flavors of ice cream, different varieties of the LLC business structure exist, too. The ideal option for a company may depend on a business's industry, type of commercial activities, number of owners, and even an owners' professional credentials. On the CorpNet website, we offer a tool to help entrepreneurs zero [...] The post Which LLC Is Right for Me? appeared first on CorpNet.
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