Friday, February 6, 2009

HB 680 Would Assist Smaller Non-Profits

HB 680 was passed by the House yesterday. It would raise the reporting threshold for reporting contributions to the Secretary of State. The current threshold is $4,000- this bill would raise it to $25,000. It would also revise the date of when annual reports had to be filed.

This would bring Mississippi's laws governing non-profit, 501 C-3-designated organizations in line with federal laws.

For many of Mississippi's smaller non-profits, this w help with operating costs. Smaller "mom and pop" non-profits will avoid added expense of attorney and accountant services associated with filing these reports.

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