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Non-profit corporation

Non-Profit Corporations are structures being in activities of public or private interest like charity or religious activities whose goal are not making profit. A Non-Profit Corporation is generally exempt from federal tax. Limited personal liability applies in a Non-Profit Corporation.

A Non-profit corporation is controlled by a board of directors or trustees. In the event of a break up, assets of a non-profit corporation must be transferred to another non-profit corporation.

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