Non-profits and charities enjoy some tax exemptions

The Facts:

Non-profits are legal entities created to provide a particular service for the benefit of the public. If an organisation is to be classified as a non-profit and enjoy some tax exemptions, it must operate and provide its services without the primary goal of making a profit.

Persons interested in starting a non-profit, can do so by registering the entity through the Companies Office of Jamaica (COJ). The first step is to secure an appropriate name and this can be done on the COJ’s website or by visiting the agency’s New Kingston offices in St. Andrew.

Once the name is secure, the next step is to fill out the relevant application forms to start the registration process. Non-profits are required to prepare a Form 1B, which are articles of incorporation for a company limited by guarantee without share capital. Persons should choose ‘charity’ to register for non-profit status. The form is available on the COJ’s website or in office.

Read Full Article