Reminder: new reporting requirements in 2011 for smaller tax-exempt organizations.
| Position | FTB NEWS |
California will require smaller tax-exempt organizations with normal gross receipts of $25,000 or less to electronically file an annual informational notice with the FTB starting Jan. 1, 2011. Although there is no monetary penalty for failure to file the notice, any organization that fails to file for three consecutive years loses its California tax-exempt status.
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