Corporation Sole Frequently Asked Questions
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1. What NAME do I use?The name that you use is important, it will describe the organization and the visions that you have for your Corporations Sole. A name should reflect an image of your intent with the use of Fellowship, Brotherhood, Services, Alliance, Ministries, Center, Awareness, Health and/or a name that would be used to describe the following titles; Church, Synagogue, Mosque or a name related to the religion practiced in them. NOTE: Do not use your personal name. 2. What can I expect?In approximately 48 hours after we receive your application and payment, you will receive the initial Corporation Documents (which requires your signature, instructions, a Corporation Sole Administration Manual. All are to be signed and returned, which in turn will be sent to the State Division of Corporations and Commercial Code in Utah for filling with the state of ________. When completed the entire package will be returned to you in about three (3) weeks. The total time frame is 4 to 6 weeks. We don't have any control over the mail or how long the government will take to finalize their work. We can assure you that we will do whatever is necessary to expedite your Corporation Sole. 3. Can a 501 (c)(3) become a Corporation Sole?YES, but not in those terms. A presently organized 501(C)(3) non-profit tax-exempt corporation can be closed or phased out once your Corporation Sole is established. You simply begin to operate only under your Sole. You may need to speak to the attorney who maintains the books and seal to explain this action and direct him to dissolve the 501(C)(3) and that it no longer exists. You may no longer wish to utilize an accountant but it will be necessary for you to maintain the records of the Corporation Sole should you ever be challenged in court. Although, you do not have to show the records of the Sole, it is important that you can answer the court under oath that you have maintained records for the Sole. 4. If a Sole is not a 501(c)(3), what is it?Your Corporation sole is a non-profit, tax-exempt corporation under 508 of the IRS code. It is a self-created religious organization, recognized and given the right to exist by the state of Washington and the Federal government. Our Constitution allows the formation of these religious orders under Article 1 of the US Constitution. Once you declare your pauper status, your income is tax-free to you and your assets cannot be encumbered with a property tax. Your earnings are also tax-free and are considered the Income of the religious organization. 5. Will I need to use my Social Security Number for the Corporation Sole?No. Your first response should be that "full-time ministers are not required to be a part of the Social Security System or to have a Social Security Number." If your State Business Identification Number for the CS is a 9 digit number, banks may accept that number but be sure to cross out the word "tax" in front of the words "identification number" on the bank contract (signature card) and initial it. However, some banks will require an E.I.N (which is for identification and is non-reporting), which you may apply for. Some banks may ask you for your personal Social Security Number to identify you so you may transact business on behalf of the CS. You can offer to give them your driver's license if you want but remember that the banking regulations stipulate that a full-time minister is not required to have a Social Security Number. <back--Corporation Sole Introduction
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