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MequonCPA
MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
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Can I set up a 501C# in Nevada and bank in California

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Can I set up a 501C# in Nevada and bank in California?

DearCustomer-

 

Where an organization is located, whether is for profit or not for profit, does not require a banking relationship in the same state. With the internet and online banking, allows consumers the option to find the right financial institution whether it is across the street, or across the country.

 

Some of the logistics, may make it easier to use a local bank (making deposits and having access to the funds quicker), but it is not required.

MequonCPA and other Tax Specialists are ready to help you
Customer: replied 6 years ago.
can you help further? If I have my business in Ca., and 501C3 in Nevada, can I still bank anywhere?

DearCustomer-

 

The only limitation that could possibly come into pay is within the banking laws, rather than tax laws. A bank may require that a non-profit provide charter documents from within the state. I know that many non-profits open accounts in other states, whether it is bank account or a brokerage account.

 

Where your business is should have no effect on an unrelated 501(c)(3) organization, even if you are an officer or board member of the group.

MequonCPA and other Tax Specialists are ready to help you