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Not for profit corporation tax is tax liability that is different than other corporations due to their operation as charity operation that does not function as a way to earn a profit.
The Charities are perhaps the most common Not profitorganisations that the tax practitioner must deal with, although there is a popular misconception that the charities enjoy a blanket tax exemption.
Not for Profit organizations do not earn profits for its owners. All the money that is earned is donated to the not for profit organization that solely pursues the organization’s objectives.