379
edits
73.853: Difference between revisions
Jump to navigation
Jump to search
Added information regarding 501(c)(3) status.
(Initial page content.) |
(Added information regarding 501(c)(3) status.) |
||
| Line 8: | Line 8: | ||
An LPFM licensee or potential licensee must be registered as a nonprofit organization in any state. While that recognition does not have to be in the same state as the location of the station, there may be state laws that require the organization to file as a "foreign corporation" in that state before they can do business there. The "foreign corporation" issue is not an FCC issue, but could be more of a state law issue. In addition, licensees need to remember to keep their corporate status current, which means any required annual report filings or fee payments to the state concerned. Corporate status should not be allowed to lapse, even though some states will reinstate lapsed corporate statuses retroactive to the date of the lapse. | An LPFM licensee or potential licensee must be registered as a nonprofit organization in any state. While that recognition does not have to be in the same state as the location of the station, there may be state laws that require the organization to file as a "foreign corporation" in that state before they can do business there. The "foreign corporation" issue is not an FCC issue, but could be more of a state law issue. In addition, licensees need to remember to keep their corporate status current, which means any required annual report filings or fee payments to the state concerned. Corporate status should not be allowed to lapse, even though some states will reinstate lapsed corporate statuses retroactive to the date of the lapse. | ||
While licensees should have an [https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online Employer Identification Number (EIN)] from the [[Wikipedia:Internal Revenue Service|Internal Revenue Service]], they are not required to have a [https://www.irs.gov/charities-non-profits/charitable-organizations/exempt-purposes-internal-revenue-code-section-501c3 501(c)(3) charity tax exemption status]. | |||
LPFM stations cannot be licensed to individuals, partnerships, for-profit corporations or for-profit LLCs. | LPFM stations cannot be licensed to individuals, partnerships, for-profit corporations or for-profit LLCs. | ||