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rramsook
rramsook, Enrolled Agent
Category: Tax
Satisfied Customers: 304
Experience:  Specialize in Individual,Corporate, and payroll tax matters.
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If we have a non-profit softball league with a non-profit tax

Customer Question

If we have a non-profit softball league with a non-profit tax ID number and we want to have a competitive summer league as a committee from that non-profit but it must have a separate bank account and separate balance sheet, do we still use the same tax ID number or do we need to get another one and if we use the same number, how do we show the separate committee?
Submitted: 2 years ago.
Category: Tax
Expert:  rramsook replied 2 years ago.

rramsook :

Hello, Welcome to Just answer.

rramsook :

In order to have a separate bank account and separate Financial statement you will need to create a new Tax ID number for the Committee.

Customer:

Do we need to get new non-profit documentation or can we use the same?

rramsook :

Yes you will have to get new Non-profit documentation as a new entity.

rramsook, Enrolled Agent
Category: Tax
Satisfied Customers: 304
Experience: Specialize in Individual,Corporate, and payroll tax matters.
rramsook and other Tax Specialists are ready to help you
Customer: replied 2 years ago.
What if you just have a seperate bank account but report the money altogether in one financial statement.
Expert:  rramsook replied 2 years ago.
That can work also, just that you will have to do the bookkeeping together. Income and expense will be reported on the same return.

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